On the hourly, gold drop is not gaining momentum (closed my shorts because of it) which does not support any short trend trading. It looks a lot more like a ( signal) than a breakdown.
BUT I don't think it's over yet.
No long entry yet, I'm waiting for one move wave down and closer to $1,295 to get my long entry. If prices cross up over $1,335 I'm wrong and the uptrend is intact. With tomorrow being Friday, a last push down To $1,300 would setup a good bull next week. Let's see what happens.