Gold is about to break the 50% fib lvl. The three 4 hour candlesticks show us that price is exhausted, 1198 is the first target.
Second target will be 1191.
Third target will be 1182.
Gold is consolidating in a *110 pip* range. If price fails to break 1236 again, we could fall at least 80 pips again.
Only short when 1236,34 gets rejected because we could see a breakout to the upside.
You could short at 1235,55 already because price rejected this zone several times. In this case place your SL around 1237,40. If sl gets hit the consolidation box...
