Gold has formed a major falling wedge bottom (purple on chart) with the minimum required touches on its sides.
Usually after putting in the minimum required touches to complete a falling wedge, a price will megaphone for a while to complete the bottoming process, and gold has established clear megaphones (one of them blue) within its falling wedge. Now gold is back at the bottom of both its blue megaphone and purple falling wedge, and it’s time for a swing to the top of both formations.
Gold will complete either a megaphone bottom, an inverse H&S or a falling wedge bottom here. An upwards breakout from any complete bottoming formation is a set-up to go long for the swing to the formation tops at roughly 1200.