Gold Short -- Hopefully a Nice Channel

A nice channel took us from the low at 1123 to 1219. Let's see if a nice channel shows us the way for part of the retrace.

.236 was my confirmation of a deeper retracement.
.382 (and .5) will be watched closely
.618 could be a point to either exit or watch for upward retracement, if not at .382 or .5

If you missed the long in it's channel, this could be a nice chance to grab some profits.

Now that it is at the top end of the channel, I'll hold longer and scalp less (ha, maybe).

Targets are clear.

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A 1h closeup of where we are right now...

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Short term to 1197.8 before more down or break false channel.

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1195 to 1190, 1190 to 1204 before larger short. See new chart for this week's early moves before short chart is posted.