There's just no love for gold.
The precious metal fell Monday, retreating from a three-week high in the previous session, as investors shook off last week's Fed decision to leave interest rates unchanged. Gold is now down more than 4 percent on the year, and according to one trader who relies heavily on the charts and options market, it's about to get a lot worse.
Read MoreGold rally set to fizzle out: Expert
Looking at a chart of the GLD, the ETF that tracks gold, Andrew Keene noted a series of failed rallies this year. "Every time we see a move above the 50-day moving average, it proves to be a false breakout," Keene told CNBC's "Trading Nation" on Monday, marking four distinct moves. "I think this is going to be the fifth time and we are going to find sellers," added the founder of AlphaShark Trading. "I think we head back to that $105 level, where we bottomed out a week and a half ago." That's a 3 percent decline from Monday's price of around $108.50.