After the massive meltdown last monday, Gold has been consolidating within this channel, essentially forming a bear pennant. The key levels to look out for now are the support and resistances of the flag itself. Breaking upwards will ensure 2000 whereas breaking downwards will ensure 1800. For now, I do not suggest taking any position unless you're scalping and if you really want to enter, enter the trade with a tight stop loss. Otherwise, wait for the breakout and be ready with your positions.