Gold – Pullback Held After 2 Bar Reversal
After bouncing heavily off the 1269 yearly lows from the large engulfing bar & false break + live trade we talked about last week, the precious metal climbed to 1305 forming a small pin bar signal on the 4hr chart below. After selling off from this pin bar setup, the PM found a bid at 1287, almost forming another engulfing bar.
You’ll notice the 2 bar reversal pattern on this last bounce is similar to the one off 1269 (just a tad smaller). Either the smaller 2 bar reversal suggests buyers are having less of an impact, or the higher low is hinting the bulls are willing to step in at a …... Keep reading