$XAU I opened an initial long position in gold at 4158. If it gets the chance to reach 4080, I can add one more lot. I don't think you should chase shorts below 4150; focus mainly on going long. Above 4500, don't chase longs; focus mainly on going short at higher levels. Gold has been consolidating in this 4000–4700 value range for the past six months or so. You can buy low and sell high, or set up a grid and let a bot run it for you.