This is an old chart. Notice how the price rapidly falls. I drew a blue line on the chart to represent a "water fall". A water fall occurs when the price just keeps falling in a very short period of time.

Silver is also presenting the "potential" for such an event whereas gold seems to moving sideways in a rather contained pattern.

The gold miners on Wednesday and into Thursday morning looked like they were about to go over Niagara Falls in a barrel, but shot right back up.

And now you know what a "water fall" event is!