I prefer to Long Gold. But both directions are possible.

As you remember I have not entered Gold longs previously (last Gold's setup) because it came into descending channel. However, we could see that it has almost reached a bottom of the this channel. Good level for enter Longs. However, I do not recommend to open positions yet because we could see a false (real?) channel breakthrough.
NO TIME FOR LEVERAGES - we have to be prepared for price fall till 1140 area or much lower or rise till 1340+ level. My setup is based on a assumption that price returns to ascending channel. Could be totally wrong with it.
Be careful. Good luck everyone.

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last Gold's setup:

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Price is near to the middle of the descending channel. Doubt that it is going to falls more. I would prefer to close a trade and look future dynamics.

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Looks good, however NOT SHORT GOLD MORE (!). Could be really dangerous to short Gold now as middle of the channel was almost reached.

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Below a middle of the descending channel. Shorts looks reasonably now. However, always remember about huge risks of a trade.

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Still being believer in Longs, however understand HUGE risks of the trade.

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Looks like Gold is not falling more, so trying LONGs carefully could be a not so bad idea. However, pay attention that dive below 1140-1160 or even below 1000 is possible. Not so sweet trade as it could looks like. RISK MANAGEMENT is a mandatory here.

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Also pay attention that channel in Gold was broken down. So logically now to have short opened. Long idea based on assumption that breakthrough being a false one. Which could be completely wrong. So, once again - strong Risk management is mandatory here.

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I am Long oriented on Gold, still believe in a setup. Last comment was about huge risk of this trade. Good luck everyone.

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Almost has touched a red square. A time for LONG-LONG-LONG now?

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I suppose that it could be a right time to add leverages to a Gold LONG-LONG-LONG position. //Not a recommendation, make your own strong RR otherwise you could loose whole capital.

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Good dynamics in Gold.

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good dynamics.

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looks nice.

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At a Red Line. A decision time.

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The dangerous asset. A rigorous risk management is mandatory.