Gold is doomed on the next 3~5 years ahead. A break of and the long term uptrend is a dead giveaway.
Many more tears waiting to be shed by the die-hard gold bugs. We've not seen a true capitulation for more than 2 decades.
Going long via DGLD (3x inverse gold ), DUST right now gives perfect opportunity to take advantage of the fall.
A more advanced technique for using the SCMR Trends is, if you have a bar that you know is a focal point for trading, such as a pivot, confirmed reversal, etc, is watch if price moves outside the signal bar, then on a lower timeframe changes trend and comes back in. This is a highly effective way to trade such a fakeout, but requires more precision and finesse.
Bought into DUST for this. There are lots of money on the tables waiting, especially on the mining sector in terms of short position.
Those index have pretty much went back to the pre-gold collapse price, another $200 drop in price would make them unprofitable. Since the spot price futures is pretty much limited to 10~20% fall.