What is the best way to translate a text with hyperlink?

i18n-q-link.php

<?php

// METHOD 1
sprintf( __( 'Please read %1$sthis%2$s.', 'tacoverdo-example-domain' ), '<a target="_blank" href="' . esc_url( 'https://goo.gl' ) . '">', '</a>' );

// METHOD 2
echo '<a target="_blank" href="' . esc_url( 'https://goo.gl' ) . '">';
__( 'Please read this.', 'tacoverdo-example-domain' );
echo '</a>';

// METHOD 3
sprintf( __( 'Please read <a href="%s">this</a>.', 'tacoverdo-example-domain' ), esc_url( 'https://goo.gl' ) );

// METHOD 4
sprintf( __( 'Please read %sthis%s.', 'tacoverdo-example-domain' ), '<a target="_blank" href="' . esc_url( 'https://goo.gl' ) . '">', '</a>' );

// METHOD 5
__( 'Please read <a target="_blank" href="' . esc_url( 'https://goo.gl' ) . '">this</a>', 'tacoverdo-example-domain' );

In some cases I would recommend something like:

sprintf( __( 'Please read the %s.', 'tacoverdo-example-domain' ), '<a href="' . esc_html__( 'https://goo.gl', 'tacoverdo-example-domain' ) . '">' . __( 'docs', 'tacoverdo-example-domain' ) . '</a>' );

you might want to use _x() to clarify the connection but I think this way the translator is safe from screwing up html elements

EDIT:
Or do I need to go with:

sprintf( __( 'Please read the %s.', 'tacoverdo-example-domain' ), '<a href="' . esc_url( __( 'https://goo.gl', 'tacoverdo-example-domain' ) ) . '">' . __( 'docs', 'tacoverdo-example-domain' ) . '</a>' );

@cfoellmann I must say I disagree with both, as Otto explained under Law the Second.

@bueltge & @johnbillion I think it's good practice to provide context when needed, but do translators really need it in this case? Do they need to know whether %s stands for <strong> or <a href target="#">? Does it influence their translation?

I find context helpful. if you add a context for %s, makes easier for translators, especially if she don't know about the position, the context in the source.

I used to include HTML tag in translations until some people reported bugs that I couldn't figure out. It turns out that a translator messed up with some HTML closing tags: < /a> (space between < and /a>) which caused some errors.

So from now, I will go for a non including HTML tags method.

@tacoverdo You are totally right. The "chapter" is great and logical but I think the case here with a link it a little bit beyond the described case. This discussion is a good indicator for that.
Hopefully there are some more ideas coming up here. I am not happy with either of the solutions (including mine)

I summarized my thoughts and my interpretation of this discussion in answer at WPSE, but since Ze grumbled at me for it — alternate answers welcomed. :)

If you can go with method 2 then that is the best but not always possible. Method 3 is simple and balanced.

Method 1 and 4 are the same except for using %s or %1$s

@cfoellmann solution should work in every language as you can move the variable as needed but requires a certain understanding to make it work.

I would also opt for method 3. It's not uncommon for a translator to have strings with some HTML markup inside. As long as it's just as much as you need.

I would also find 1 and 4 not easy to translate if you don't know what the placeholders stand for. And beside readability, it's quite easy to mess it up. Method 2 would be somehow OK. I would never use method 5, as it's quite impossible to parse such a translation. If you hard code the URL in method 5, to make the URL itself translatable (as @Rarst pointed out), than I am also OK with method 5, but still wouldn't do it this way.

Please continue discussion here, if necessary.

Thanks!