For the last five weeks volatility has collapsed forming a volatility coil. As I've mentioned before the initial move out of a coil is a false move about 70-75% of the time.
If the dollar were to break upwards out of this pattern it would probably skew dollar sentiment even more wildly bullish than it already is and potentially set up a powerful reversal and continuation of the secular bear market.
Unfortunately if this does play out we can almost count on gold not taking out the critical $1161 level and the D-wave will be confirmed.
In that case I would look to get aggressively long in preparation for an A-wave advance as the D-wave bottoms.
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