gold is in box pattern, bordered by fib retrace lines. 4 hour chart xauusd
large fib starts at most recent lowest-low Dec 2 2015. most recent highest high is may 2 2016.
small fib is from most recent highest high may 2 2016 to bottom of the "drop" may 29 2016.
box pattern meets trend line june 9 after usa market closes (the date china is expected to miss cpi at 2.19 actual versus 2.3 expected)
play neutral until june 9 (bollinger bounce)
relevant fib levels are circled green
large fib starts at most recent lowest-low Dec 2 2015. most recent highest high is may 2 2016.
small fib is from most recent highest high may 2 2016 to bottom of the "drop" may 29 2016.
box pattern meets trend line june 9 after usa market closes (the date china is expected to miss cpi at 2.19 actual versus 2.3 expected)
play neutral until june 9 (bollinger bounce)
relevant fib levels are circled green
Comment:
optionally as s higher-risk long term trade. open short with S/L above upper box border , at or slightly above 1251.59
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