Trade Idea (speculative) GLD / DGLD

This is an interesting one, especially ahead of tomorrow's F_E_D minutes.

It looks like GLD is going to see a quick move to the downside, I suspect after that, it makes a move higher. I am opening a speculative half size DGLD (3x short GLD) trading position), although it would have to have a pretty tight stop, likely a bit above below DGLD's intraday lows and then consider, if everything goes as I suspect, a UGLD long (3x long GLD).

Here's the charts, the negative GLD divergence is sharp, but not very large which is why I suspect it's a quick, sharp move, but not a long one.

 GLD's negative divegrence gapping it down and a 60 min positive that has been in line since.

 The same on GLD's 30 min chart so there's multiple timeframe confirmation.

And the 15 min chart shows the same with a positive divgerence at the lows and in line. The fact there isn't a negative divgerence on the 5 min chart suggests to me any downside move can't be that big, it can however be sharp.

 The 5 min chart in line, The fact there isn't a negative divgerence on the 5 min chart suggests to me any downside move can't be that big, it can however be sharp.

 Here's where it gets interesting, the 2 min chart intraday has essentially fallen off a cliff.

UGLD, the 3x long GLD chart's 5 min is close to in line, but has a small negative divegrence today.

And the 3 min chart has fallen off a cliff.