The price of gold is currently going sideways, consolidating and testing support at 1300 level. Although the weekly chart has not reached value at the Wave, the was oversold and the impulse turned green after a candle, all very .
Going on to the , the picture becomes more clear, a normal pattern in an uptrend, with false breakout below support. I have been long for some time, and I felt the pain twice, but gold never broke properly below 1300. This is why I use soft stops, so I don't get stopped out like a fool on a few cents false break.
Normally, we should move much higher than this, 1400$ should prove a decent intermediate target.