Gold Map — Revisited

July 21, 2013

On July 1st I posted a map for gold to follow to regain its bullish posture.
https://likesmoneycycletrading.wordpress.com/2013/07/01/gold-map/

Tonight gold has taken step 3.

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Tonight gold has broken above 1301.30 thus forming a weekly swing low. A weekly swing low in of itself does not guarantee that this is a new intermediate cycle. Its just that you cannot have a new intermediate cycle without a weekly swing low 🙂

The other point of interest tonight is that gold has now set a new daily cycle high on what will be day 15.

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Don’t look now, but gold has now been up 13 of the previous 16 days. This greatly increases the chance that this daily cycle will form as a right translated daily cycle. A right translated daily cycle is required to begin a new yearly cycle. I believe that gold is in the process of leaving behind its yearly cycle low that was printed on June 28th.

Little by little, the pieces are fitting together …

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6 responses to “Gold Map — Revisited”

jeff the flee

July 21, 2013

LM thanks for the report. I see what you are saying and I am on board and going long. I am still worried that this Yearly cycle is going to bounce and have another left translated cycle after this yearly cycle tops in 3 or 4 months. I am only seeing this possibility because of the last yearly cycle failure.
So going forward I do not know how or where to guard against this. I don’t want to make the same mistake as before and suffer the same pain.
IF Goldman Sachs says go short at high noon I will have to buy a put as much as I hate listening to them. ( they may possibly be wrong on gold another 5 years straight )

Reply
pk34145

July 21, 2013

Jeff,
LM did a great report explaining the “yearly cycle failure”. During a 4-year cycle low, a failed yearly cycle would be normal. (I tried to search for this report but could not find it. The report was within the past month)

Reply
1. likesmoneystudies
  
  July 21, 2013
  
  Jeff,
  
  I think this is the report in question.
  
  https://likesmoneycycletrading.wordpress.com/2013/05/26/dead-or-alive/
  
  LM
  
  Reply
  1. jeff the flee
    
    July 23, 2013
    
    yes you are right. I did read the report at the time. I am just a lemming and needed a reminder. thankyou
pk34145

July 21, 2013

LM,

Thanks for keeping on top of the gold market. Good weekend report.

This is VERY big for $GOLD with *) a weekly swing low printing over 1301, *) an intermediate trend line break, *) day 15 virtually guaranteeing a right translated first daily cycle of a new Intermediate Cycle and a Yearly Cycle printed off of June 28th. The low of this awful bear market is finally in.

http://www.imagebam.com/image/5f4675266625244

Reply
rlmsix

July 21, 2013

Likesmoney,
Each new step IMO will be a little more difficult than the previous. However; the icing on the cake is that the fundamentals seem to be getting better.
Great Weekend Report
Jack Dog

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