Here is Gold as of this morning at 6 am. Notice how I have drawn in red two flag patterns that could have been traded profitably on the way down recently. Notice, how long and steep this current flag is drawn in with a blue line.

As I have stated before, this type of flag is not the high probability formation that the prior two were. What you want is a quiet type of pause like the prior two did, then go with the breakout.

I expect this current breakout to re-trace. It may not, and if it does not so be it. I always want to trade when the odds are the most favorable for a win. They are not in this current breakout pattern.