Traders' preferences may vary, depending on convenience, traders may like M5, but I use M15 more for gold. Mostly I read the chart pattern, but I put indicators like Bollinger band, MA 200, and RSI.
There is a possibility for that to happen, however if you take a look at the monthly charts of Gold you will see its becoming overextended and might retrace to the downside anytime soon. hope you were able to book some profits with the long position you took?