Cycle Trading

The Miners looked to have printed a daily cycle low last Thursday.

A swing low formed with last Friday’s candle which signals a new daily cycle. The Miners appear to be testing last Thursday’s low.

Since there has not been a break of the declining (red) cycle trend line, there is no confirmation that last Thursday was a daily cycle low. A break below last Thursday’s low of 317.41 means that the daily cycle is extending past day 25.

Gold also appears to be testing its recent low.

Gold has a similar set up like the Miners. A low printed last Thursday. Gold has yet to break above the declining trend line to confirm a new daily cycle.

With last Thursday being day 30, there is less likely a chance we will see gold lose that low. But a break below that low will extend the daily cycle out past day 35.

Gold and the Miners just may be waiting on which way the dollar will break.

Thursday was day 18 for the daily dollar cycle.
The dollar once again printed a lower daily low and came within 2 pennies of breaching that low.

The dollar is running out of wiggle room. A break above todays highs will likely break above the declining trend line forming a swing low and declaring a new daily cycle. Under this scenario, I would expect the new daily cycle to peak before day 8 and roll over into a failed daily cycle.

Of course the other possibility is for the dollar to break below the 3/15 low of 82.05 leading to a failed daily cycle and an intermediate cycle decline.

I think if this second scenario occurs, that would help gold and the Miners have a successful test …