Cycle Trading

We discussed that 10/05 looked like it could be a daily cycle low,
However, it was early in the timing band and lack confirmation with the Schaff Trend Cycle.

Tuesday saw the dollar sell off and tag the daily cycle trend line.
Already in the after hours the dollar has broken through the daily cycle trend line to confirm the dollar has entered its primary decline into a daily cycle low.

Notice the confirmation with the Schaff Trend Cycle.

A break below 10/05 confirms that this is still the same daily cycle.
The dollar has fulfilled this requirement in the after hours by printing a lower low to the 10/05 low. This confirms that this is still the same daily cycle with Tuesday being day 22.

At day 22, the dollar’s daily cycle low should print any day now.

Friday saw gold break below the previous daily cycle low confirming that this is a failed daily cycle, the hallmark of an intermediate cycle decline.

Gold did catch a bid today with the dollar breaking lower.
However, gold is caught in an intermediate cycle decline until a daily swing low is formed accompanied by with a declining trend line break.

Should the dollar print its low soon, it could help to drive gold one final leg lower into an intermediate cycle low.

We still wait …