Suck in the bulls?

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Did we get our 3rd DCL a few days ago?

I think if we get a confirmed swing low by closing above 10sma, we are in the 4th cycle and Scenario #1 is in play. Price can go up to 50sma area, before heading back down.

If we drop from here, it will be scenario #2 and 3rd cycle will continue further.

My bet is on Scenario 1 and will be looking to short near 50sma with stop above $1306
Comment: Looks like we will be getting our confirmed swing low and I would say the start of the 4th cycle.
Still on the sidelines to see what transpires, but expecting to short close to 50ma.
very valid scenario Fruitboy
fruitman82 Viking83
@Viking83, :D
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