With any new topic it is good to first take a look at the bigger picture.
This is a monthly price chart for Gold against the USD since the start of the millennium, 2000.
There are several interesting points here:
The monthly ranges (bars) from 2000 to 2008 were very much smaller than in the years since then. Volatility has clearly increased enormously. Is this a direct outcome of the financial crisis at that time?
Gold value was steadily increasing during those first eight years and then increased at an even greater rate, which finally preaked out in 2011.
This was followed by a period of very broad sideways price movement until 2013, when a bear market broke the uptrend.
This downwards move lasted 6 months and took Gold into another broad range that persisted for the next 6 years up to the summer this year, 2019.
Prices since the summer breakout from the previous range have not, however, yet managed to set any new highs.
So this is where we are approaching the end of 2019: Prices have broken out of the long-standing range but have yet to confirm a new uptrend via a higher high. So the big picture is that we are waiting for the next significant point, i.e. either a new high or a slip back into the earlier range.
And now, within that big picture, one can start to look at trading opportunities on the lower timeframes.