This looks overbought on all timeframes I follow: 30M, 1H, 2H, 3H and 6H so looking for a potential short.
My prognosis for gold which was arrived at Monday due to price action of gold over the previous trading day was to close out my positions as it was looking risky. Wednesday saw a strong rebound upward and hence I am back into 8 gold positions as of 2 hours ago. The difference between my system and cvds' system is the different time frames, I'm long term, cvds' is short. Trading short term one must be constantly changing direction, this requires an agile mind, fast decision making, changing opinion constantly and a high degree of energy and attention. Yesterday I wasn't watching gold as I was out traveling for the day doing errands for wife, but I was caught by surprise when I saw later the rebound. This forced me to quickly change my mind and re enter. CVDS, if you were caught on the wrong side of the trade this last time, it is just one of those things where volatility and direction changes and which probably catches out many traders. As a short term trader you will need to be able to change your bias in thinking quickly, in actual fact have no bias, and this can be hard to do. Hence why I don't short term trade, way too hard for me to keep up with it. Good luck with your next trade.