Half cycle lows serve an important function. Besides becoming a potential place to add a position, they allow us to construct the daily cycle trend line. This will become important later as I will explain in a bit.
For now, you could take a long in gold around 1700 with a stop just below that area and just plan to exit the trade at 1800. a 100 point gain in futures is worth $10,000. There are micro gold contracts (MGC) as well that are 1/10 the size just like the index funds many here are trading. There is also SIL which is a silver contract that trades at 1/5 the size of a silver contract.