Gold is very slow these days and quite tricky on the four-hour or even daily chart. In situation like this we need to focus on time frames where structures are cleaner. We are looking at the 30min chart below where we have two contracting trend-lines that form a shape of a triangle. market could make a wave (e) pull-back to 16808 before market turns up, towards 1700.
Any intra-day long positions should have stops beneath 1683 invalidation level.
XAU/USD" title="Gold-Intraday" width="505" height="507">