Fading Gold’s All‑Time HighGold has just posted a euphoric all‑time high at 3 499.6 after an almost parabolic climb along a single ascending trend‑line, and the wick that pierced that level sits in a thin, low‑volume pocket on the profile—classic bull‑trap territory—so once we see a four‑hour close beneath the trend‑line we expect momentum algos to flip, dragging price swiftly toward the 3 160‑3 130 demand block that marks the prior high‑volume consolidation; the short thesis is to scale into shorts between 3 480‑3 510, place invalidation above 3 525, and ride a potential vacuum move to that target zone (with room to extend toward 3 100) as crowded longs unwind, especially if a hawkish Fed headline or uptick in real yields provides the spark.
