To many people had bought in gold on the last green candle day (last week Thursday)
1. Bulls who was already in but closed their position at 1150 and 1200. They had entered again on that day.
2. Late bulls who were not in this 2nd daily cycle , but wanted to have position and they bought too late.
3. Short players who stopped out in that psychological breakout.
Most of 1. and 2. must be stopped out before we can have the second leg up, then we can have the daily cycle low...
The problem when we are in the daily cycle low you will feel that gold price is going to much lower like:1100.
This is not a daily cycle low . That's why I'm telling more pain is coming for buyers.