After bouncing off the 1122 Levels, XAU/USD (GOLD) started the Up-Trend.
So far we have the 1st Impulsive Intermediate Wave, which is coming to an end and 2nd Corrective Wave (ABC Structure) will most likely commence soon.
Great confirmation would be a Bearish Divergence at the end of the 5th Minor Wave.
Conservative Entry – 1230 or 1240
Aggressive Entry – 1220