Is This the End of the Insane Rally? (read before comment!)In my Sunday video, I argued that after Friday’s close it seemed likely that 4100 could be next for Gold — and indeed, Gold didn’t just stop there, it printed a new all-time high at 4180.
Yesterday, as usual, when I woke up Asia had already done its job — we’re used to that by now — and I found the price 400 pips higher. So, I simply watched.
However, last night, considering that after a 1500+ pip rally at least a correction could follow, I decided to take a short position — a very risky one, to be fair.
Luck (and timing) were on my side, and by the time of writing this post, the price already dipped under 4100, and my trade was closed with a +600 pip take profit.
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The Big Question:
Is Gold done with this insane rise?
In my opinion — yes, at least temporarily.
There’s no secret that the price is overstretched, and if we look carefully at the chart, the recent 4,000-pip rise is contained within an expanding triangle.
We saw a short-lived spike above the resistance of that triangle — and also above the ascending channel — followed by a strong 1,000-pip reversal in just two hours, clearly signaling heavy profit-taking.
At this moment, the price has stopped its descent around the horizontal level below 4100, and we’re seeing a technical rebound.
I plan to use this rebound as a new selling opportunity.
While my first short targeted the 4100 area, my second trade will aim for the 4050 zone, which coincides with last week’s all-time high and now acts as a key confluence support.
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Final Thoughts
Markets often humble us — and they do it with irony.
Although I'm very bullish on Gold overall, my last five trades have all been shorts.
And the irony? The results are more than satisfying:
✅ +550 pips
❌ -200 pips
➖ Break-even
✅ +350 pips
✅ +600 pips
That’s +1,300 pips profit from trading drops in a bullish market.
The market truly has a sense of humor. 😄
