Cycle Trading

Gold formed a daily swing high on Tuesday.

Tuesday was day 18 for the daily gold cycle. That places gold in the early part of its timing band for a daily cycle decline. A peak on day 17 indicates a right translated daily cycle formation which aligns with gold being in a daily uptrend. A close below the breakout level would be a clear indication that gold has begun its daily cycle decline. Gold will remain in its daily uptrend long as it forms a swing low above the lower daily cycle band.