What's happening with Gold?

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Loads of people were demoralised on Friday 6th August 2021, when Gold took an amazing dip south. That was part of a 30 min trend switch.

But - as I always say look higher. Now strangely, I am actually bearish on Gold in the long run. However, the technical picture is showing something different on the 1D time frame. And there are conflicting trends on lower time frames e.g. The 4H is saying south is the probability.

The point is that you gotta pick a trend on a time frame and stick with it, win or lose - just make sure your losses are affordable .

So - the 1D time frame is showing a lovely theory of curves (TOC). This usually creates a probability on that time frame only for further movement in the leading edge of the curve (which is for the north). How far? How would I know? I don't own the future. If price falls out of the TOC and continues south on the 2h and 4h, then Gold could be in real trouble. This is also possible because watch the ATR trend switch on the Daily which is sharp and bearish . The 2h and 4h time frames live within it.

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