Decision Time for Gold?

I know that this isn’t forex related, but gold is technically a currency (in some peoples opinions anyway) and I just wanted some advice on my technically analysis of the recent price movements in gold.

I think I’ve identified a key area made by gold on its recent way up to new highs, the price has since re-entered and stalled in this area on the way back down so I think this might be a good trading idea for those who are interested.

You can see two good looking candle rejections at the bottom of this price range on the 4H chart, which is signaling to me that some decision making has to be made. There is also a higher low formed on the 15m chart so there is definatly some buying occuring at this level. My reasoning is that if the trend pulls out positivley from this area then we may see a renewed uptrend or ranging market for gold, but if the price falls to create a lower low then the bearish movement will continue down.

I’m only raising this point as I have a couple of ounces and am feeling a bit foolish for missing the double top as my exit signal (forex has been eating up to much of my time I’d almost forgotten about my gold :15:)! My concern is that I don’t want to sell my gold at the bottom of a potential new trend. I’m looking to remove my money from gold soon and put it into forex trading anyway, so does this seem like a sensible place to make a decision on? If the price falls out of the box I’ll sell my gold now and take my (slighty reduced) profit, but if it creates a new ranging or bullish market I will stay in for a little longer until I want to release the funds in a couple of weeks or months time.

Thoughts, suggestions? Many thanks.

It’s tough to say. It can go either way it looks like.

Exactly my point :P. If the price makes a new lower low then it would be advisable to sell and if it breaks out higher then hold long?

I’m looking to buy between 1500-1375