Gold has formed a reversal candle at the top of a with Friday's close. The divergence on is getting more pronounced as indicated by the pink lines. Looking at a price target of about 1130 - 1150 to coincide with both 200 day Moving Average as well as 61.8% level. Since 2013 , prices has fallen on average 9-11% from the top of the (will post chart picture for clarity).
Comment: Historical Price Drop from Top of Channel since 2013.
Comment: Prices of gold subsiding from top of channel. Short position might very well play out after next week's BOJ and FOMC meetings.