Many people get bogged down by focusing on small time frames. Now let me introduce the annual schedule, which is a huge deal breaker. Prices reversed course in 2011 and have been bullish ever since. Here we can see that the price is basically retracting at 161.8%. We could see a lot of selling on the 100% extension, which could test new support. To confirm this, we have multiple price action points integrated around the reward area. Right now I'm still bearish because we just made a new high and maybe we have to come back and test the key important areas.
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