Gold formed a swing high on Wednesday and delivered bearish follow through on Thursday. There are 3 points to consider in order to determine if gold has begun its daily cycle decline.
Point # 1) Timing Band
Thursday was day 22 for the daily gold cycle. That places gold early in its timing band for a daily cycle low.
Point #2) The daily cycle trend line.
While gold has formed a swing high and delivered bearish follow through, gold has not closed below the daily cycle trend line. A close below the daily cycle trend line would signal the daily cycle decline.
Point #3) The 1700 breakout level.
Even if gold breaks below the daily cycle trend line, I would not be convinced that gold is beginning it daily cycle decline unless gold closes below the 1700 breakout level. Since gold’s daily cycle has been know to stretch to 50 plus days, gold could blackest the breakout level and then continue higher.
Cycle Trading 
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