Excellent post!
I'm goldbullish too but was honestly prepaired for a possibly violent but short-timed correction right here. So far that has not happened and your kind of proposed correction seems more likely per the hour. Maybe the trendpressure upwards is to strong for a real correction to occur? In that case the next up-movement can be expected to be stronger than after a more regular correction phase. Thus I have reduced my hedge with 50%
darth.stocks
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I think one should not be to bullish till COT Report... It exited the narrow pitchfork trend channel, so a "reorientation" break is quite normal. It seems that a steeper channel is currently created (I hope...).