According to the last week COT report, the dealers are highly short and 90% managed funds are long for gold . And also, XAU-USD is at monthly support level . Breaks above the monthly pivot will confirm the bull move and gold is heading to 1390.00 area this year.
This view is valid only if the price breaks above 1290 handle.
Bought Gold at 1270.00 with SL just below 1265.00.
I am going to close HALF of my positions at 1280.00, so, I don't have to worry about the rest even if I am stopped out.
Half of my position is closed at 1280,00,
I'm stopped out. But, I buy Gold again at the Pivot of next week.