Gold is making Higher highs and Higher Lows (HHHL) structure and upward channel. If it sustains above 49300 then then will test 50500 again and if it breaks below it then it will take support and lower trendline of the channel. You can keep 49300 (closing basis) as your Stoploss for the bullish position. Do go for short below with not more than 200 as your risk.