Daily: The flat Kumo top attracted the price up and also proved to be a good resistance for the move. After printing two daily dojis, price started to decline, Slow and had been warning us also for last few days that a correction is ahead from the 1330 . After Slow , today will likely give a sell signal too. You may think it will become again. Well, for few more days it may be. But look where is the price now compared to the Kumo Cloud! That's right, it has moved out on the side, and trading above the Kumo. This we can not call a break yet. Also Kijun Sen is still in/at the Kumo, and despite Chikou Span (blue lagging line) is above price candles (which means a bias), it is still in the past Cloud and points a bit down again.
Most likely Gold will show a correction down to the daily Kumo and Kijun Sen, so with a good chance to ard 1285 - 1295. I think that level will be a good buy opportunity for the long term, but of course we will have to re-evaluate the components and the other indicators set ups before starting to enter a strategic long position.
For now I would not sell any piece of my strategic longs. By the 4 Hrs chart is still not yet in real counter trend mode. What I would do is to maybe write some covered calls at 1340 strike, but only for 1 week. (some minor premium pickup.)
I have a feeling that Gold will become really later this year. Any time it breaks above 1330 and later above the red downtrend line, the third major wave in the will blow it up to 1480.
p.s.: of course anyone can play as a bear in short term, but for me it looks like the juice will come from the side.