The gold has retraced through the week after the 1st bullish trend has completed from 1273 to 1287. The retracement has formed an AB=CD pattern and the price is slowly breaking away from the bearish structure as seen in H1 chart. The candle bodies have shrunk as it fell towards point D of ABCD pattern which is a sign of weakening sellers. It is a good time to consider buying the gold now with a stop loss around 1271.
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Completed one full wave of bullish trend. Consider taking partial profit.
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Entering the supply zone very soon. Consider taking partial profit again.