Cycle Trading

The dollar managed to catch a bid off the support at the 79.50 level.
Still the dollar printed a lower high and lower low.

If 11/27 hosted a 29 day daily cycle low, that would make Wednesday day 6 of a failed daily cycle. Because this is a failed daily cycle, the dollar should continue lower and be contained by the declining cycle trend line.

On to gold, starting with the weekly cycle.

Gold printed a 25 week intermediate cycle low.
It has formed a weekly swing low and broke the declining weekly cycle trend line declaring this a new intermediate cycle, now on week 4.

Seeing how the previous weekly cycle was right translated, the expectation is for the current intermediate cycle to set a higher high.

That would necessitate the that the daily cycles should form as right translated as gold journeys to print a higher weekly high.

So lets look at the daily cycle.

Gold printed a doji on day 21 of its daily cycle.

Doji’s can often indicate a change, especially when formed in the timing band for a low.

Also, as discussed when looking at the weekly chart, the expectation is for gold to print a higher weekly cycle high. Therefore gold will need to avoid forming left translated daily cycles and also avoid printing a failed daily cycle.

Gold will need print its daily cycle low prior to day 26 to avoid the current daily cycle forming as left translated, Also the current daily cycle will need to print its low above the previous daily cycle low of 1672.50 so it can begin a pattern of higher highs and higher lows.

And what about those Miners?

Because the Miners never broke above the declining cycle trend line, I view this as still part of the intermediate cycle decline beginning in October.

When gold prints it daily cycle low the Miners should do so as well.

If gold should form a failed daily cycle then all bets are off.

But for now, we wait …