Gold Forms Pin Bar In Attempt To Bounce | Aug 7th

Spot Gold – Forms Daily Pin Bar
Closing bearish 7 of the last 9 days, today the precious metal formed a bullish pin bar near the consolidation and SL (swing low) before the most recent bull leg up. I’m not totally convinced the current bear run is over, but it appears to be weakening, and the bulls showed some resilience buying off the 1272 lows and bouncing $12 on the day. If the 4hr charts continue to show a basing behavior around the daily lows, I’ll look for intraday price action signals to buy, targeting 1299 and 1336. A daily close below 1267 suggests a retest of 1212.

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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