How far can Gold Fall (Short-term)?

Here is another view on my short Gold trade. The following chart shows the 5-day Rate-of-Change or the price of Gold. It highlights that the metal is capable to frequently decline 5-10% in a very short period. In fact, during the last 7 years, one or two of these selloffs occurred each year. Gold just lost 3% in the last week, so there is still some room before I plan to take profits. Should we get an aggressive reversal earlier, I would of course close the trade.

Disclosure: Covestor Model is short GLD.