Crossing the Line …

October 24, 2013

The dollar has entered its timing band for printing an intermediate (weekly) cycle low. And it is three days shy of its timing band for a daily cycle low. Is the dollar ready to cross the line?

The dollar has already entered its yearly cycle decline. That way for the dollar is down. The dollar needs to print one more intermediate cycle low before entering in its final yearly and three year cycle decline.

The weekly chart above shows how the 80 level has been an important resistance/support level for the past 3 years. I would think if the dollar were to begin a new intermediate cycle, that would be the level to that it would find its support.

If the dollar fails to find support here then it’s …

4 responses to “Crossing the Line …”

goldtrader101

October 24, 2013

I have to say that I follow a few cycle practitioners and you have nailed gold and dollar.
Some of these other guys were hedging their position that gold is likely fall further but also stated that this past low may indeed be the low. Now everyone is coming to your view that the recent low in gold was a cycle low. I just want to commend you for having the courage to make the difficult cycle low call and follow what price action is doing exactly and not being distracted by personal bias. Great call.

Reply
1. likesmoneystudies
  
  October 25, 2013
  
  Goldtrader101,
  
  You hit upon what I try to do “follow what price action is doing exactly” which is not always easy.
  
  Thank you for your comment.
  
  Reply
PT

October 26, 2013

Was October 15 an ICL, LM?

Reply
1. likesmoneystudies
  
  October 26, 2013
  
  I believe so.
  I detail it in the Weekend Report
  
  Reply

Cycle Trading