Price is at 0.618 fib retracement within a channel and a double bottom is forming as well at this level which could serve as a good rejection ( will wait for price action ) . Should price break out of the channel to the upside, I will look for a potential long trade.
Price is moving in a flag pattern that can serve as a correction pattern. A retest and push from the lower trend line that acts as support along with price action could advocate for a long position to the resistance/ upper trend line of the flag. Will wait for a break and close above that resistance area for further long positions.
This analysis depicts why I went long on gold. Should price break the level shown as my take-profit I will look for further highs for gold< alternatively should price respect this level as resistance, I will look for a possible short opportunity as a pullback on the overall bullish trend.