Gold Confirms Bottom After Pin Bar Buying | Aug 8th

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Spot Gold – Bottom Confirmed as Prices Surge After Pin Bar Bottom
For over a month now we’ve been suggesting Gold has been forming a complex bottom, which you can read here, here and here. After severe drops like this PM experienced, bottoms usually take time and form complex price action structures – usually with several new HL’s (higher lows) and a second attempt to take out the prior lows (which fails).

Before today, over the prior 12 days gold sold off 8 of them, dropping over $75 in the process. However yesterday it formed a pin bar off a key level and has since surged over $26 higher taking out the daily 20ema and virtually the last 3 days …

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