Traders hold with a tight stop for more short-term upside. The US dollar gold price recently broke out of a sideways consolidation in the form of a broadening formation (lines 1 and 2). This pattern is pointing to more upside to come over the short term. The minimum target is $1 633, measured as the height of the broadening formation projected up. (It was at $1 602 at the time writing.) The only short-term concern is that the stochastic oscillator (on top) is in the overbought zone. (However, the long-term picture is still bullish.) As a result, traders keep holding. But start to tighten your trailing stop to protect short-term profits. Place your stop as a close below $1 560 (spot price). Once the gold price is above $1 620 then raise that stop to a breaking of the low of its past two days. Start taking short-term profits above $1 630 and then narrow that trailing stop further to a breaking of its prior one-day low to allow for capturing any further upside.