Gold update - TF 4 hr Price is possibility rebound wave 2

Aug 8, 2016

Now I bias short position because fundamental bias down trend more than uptrend.

Because Nonfarm payroll is very good.

I think Price rebound to be wave 2

Short price 1248-1253 (Fibo 0.5-0.618)

Stop loss when price break high around 1265

If I assume right price continually down to wave 3

1st target price 1317 (Fibo extension 1.618)

2nd target price 1297 (Fibo extension 1297)

And last wave 5 maybe finish wave at price is 1277 or 1265

Thank you