06 sep 2011 prev. high still credible after 11 years
gold prices have been in a rally to the upside for a long time with the Russia - Ukraine invasion being a major catalyst for this bull run. Even with the bullish surge price failed to reach the ATH @ 2074.98 , reversing a few pips below the high and price has been in a steady decline ever since to 2011 prev. high @ 1920.80.
Price even went as low as forming several full OHLC candlesticks below bullish trendline indicating shift in momentum from bullish to bearish.
Taking retracement measurements from high @ 2070.35 to low @ 1995.03 , i have all eyes on the 38.2% level @1962.27 because it is where i have the high of my liquidity pool which is also the is 4hr supply CP @ 1962.27 which are reasonable factors of confluence , i have sell limit orders at the fib level with targets at monthly imbalance @ 1847.74.
To gain credibility, you must consistently demonstrate three things: Initiative: You have to get up to go up. Sacrifice: You have to give up to go up. Maturity: You have to grow up to go up. If you show the way, people will want to follow you. The higher you go, the greater the number of people who will be willing to travel with you.
John C. Maxwell
Price even went as low as forming several full OHLC candlesticks below bullish trendline indicating shift in momentum from bullish to bearish.
Taking retracement measurements from high @ 2070.35 to low @ 1995.03 , i have all eyes on the 38.2% level @1962.27 because it is where i have the high of my liquidity pool which is also the is 4hr supply CP @ 1962.27 which are reasonable factors of confluence , i have sell limit orders at the fib level with targets at monthly imbalance @ 1847.74.
To gain credibility, you must consistently demonstrate three things: Initiative: You have to get up to go up. Sacrifice: You have to give up to go up. Maturity: You have to grow up to go up. If you show the way, people will want to follow you. The higher you go, the greater the number of people who will be willing to travel with you.
John C. Maxwell
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