If you bought #GOLD $XAU anywhere near this topping channel, I rate this as Extremely high risk.
I've had many stop by and say we are going to pull off a 1980's style run and overshoot the topping channel.
Let's entertain this idea for a second. If we do overshoot, the horizontal Gann Level 6 at $7638 will be a formidable resistance. This is just about 50% higher.
Even the most parabolic of bull runs I've never seen break through more than 2 Levels in one bull market. The 1970's run ended exactly 2 levels higher precisely at Level 3.
This information is for your perusal as you deem fit.
P.S before breaking out of the topping channel in 1980, there was a 9% correction at the topping channel first.
Gold closed in a very strong bullish mood, breaking an intraday horizontal resistance zone.
There is a high probability, that the market will reach 5000 psychological level soon after the market opening.
As 5000 level is a very critical structure, traps and manipulations will likely occur after its test. I will monitor a price action and will provide an update shortly then.