My point of view is . I consider this trade as short-term trade and I will describe why, but firstly leek look at long-term sentiment.
Gold from weekly chart looks great for long. There have been some consolidations, BUT , gold is making higher lows from weekly chart. Now the situation is, that gold is making a triangle. There are a few resistances upwards at the levels 1350-1375. Gold is making still higher lows and it seems, that in long-term, these resistances could be broken, because bulls are stronger and stronger.
We can see consolidation from january and i think this will last some time (but in trading you never know how long). Let's go use it as our benefit and low risk shor-term trade. The really strong support for us is 200 (Daily), where the market spotted and it could be a signal. looks great for us, we got out from oversold zone and the curves had crossed upwards. Histogram is saying us, that there are less and less bear and I think there will come . Signal on the curves hasn't crossed yet, but it seems, they will.
The value of GOLD is now near the and above the 200 . Our barrier is 100 (daily), because the value is fighting between 100 and 200. When this 100 will be broken, we are moving up. With good STOP LOSS, we risk a few, but can reach a lot. Here are some instructions:
BUY ZONE: 1309-1324
TAKE PROFIT: 1357
STOP LOSS: 1306