Technical Analysis 101, Recognizing patterns in their early stages allows the Trader to do his research and be ready if the pattern plays out, we clearly have a cup and the beginnings of a handle, this is undeniable. What we don’t know yet is will the pattern play out. The entry point for a trade would be breaking above the the white line at around 187, I have found that taking a small position early keeps you focused on the trade and you are less likely to forget about it.
As far as a double top, you are correct, there is also a double top in play and had you shorted at 187 you would be looking at a nice profit, Your double top just happens to be a shorter term element of my Cup w/Handle,
This Gold play could still take months to playout and I will be watching and up dating