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Cycle Trading

On the Precipice of an Intermediate Decline

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The intermediate gold cycle peaked two weeks ago during week 22. Last week gold formed a weekly swing high.

gld weekly

Gold is sitting right on the precipice of the intermediate trend line. A break of the intermediate trend line will confirm that gold’s intermediate decline.

gld

Monday was day 16 for the daily gold cycle. Gold is 2 days shy of entering its timing band for a daily cycle low. A peak on day 6 assures us of a left translated cycle formation. And today’s false break out may signal that gold is ready to make its final decline into its daily cycle low. Gold needs to break below the previous daily cycle low in order to confirm the intermediate cycle decline. A break below 1228.50 forms the failed daily cycle.

6 responses to “On the Precipice of an Intermediate Decline”

  1. Bob Caterino Avatar
    Bob Caterino

    1258.30 confirms a FAILED daily cycle? not the day 19rt low of the previous cycle?

    Reply
    1. likesmoneystudies Avatar
      likesmoneystudies

      Bob,

      I do not know what I was thinking, but I was not thinking.
      You are correct. 1228.50 is the last daily cycle low.
      Thanks for pointing this out.
      LM
      gld

      Reply
  2. Kenny Cheung Avatar
    Kenny Cheung

    I will have to respectfully disagree with you that gold is about to decline; my cycle work suggests the next high is sometime around May 30, 2016. Time doesn’t balance with time on May 2 for a high. And if I am right, I will explain why that’s the case comes May 30, 2016. As for now, I don’t believe May 2 is the top for this time period.

    Reply
  3. Kenny Cheung Avatar
    Kenny Cheung

    I will have to respectfully disagree with you gold is about to decline. My cycle work suggests that time has NOT balance with time. Yes, it is strange to say time balance with time, but that’s the case with my Gann model. Time will tell.

    Reply
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  5. Looking at the Dollar & Gold | Cycle Trading

    […] we looked at gold’s intermediate cycle and discussed how gold was on the precipice of an intermediate decline. Today we will look at where the dollar is in its intermediate […]

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