Cycle Trading

The Miners printed a bullish engulfing candle on Thursday.

After peaking on day 16 the Miners formed a swing high and declined. They closed below the 50 day MA and the daily cycle trend line on Monday, day 20, placing the Miners in the early part of their timing band for a daily cycle low. The Miners gapped lower on Thursday, breaking below the day 20 low. Then the Miner proceeded to rally and ended the day closing above the day 20 high to form a bullish engulfing candle. That has eased the parameters for forming a swing low. A break above 22.54 forms a swing low to signal the new daily cycle. A close above the upper daily cycle band will confirm the new daily cycle. And if a new daily cycle is confirmed, then the Miners would have printed a higher low — to begin a new pattern of higher lows. This would signal that the early March low hosted the ICL.