The daily gold cycle peak on day 13, formed a swing high, and then declined into a daily cycle low. Gold printed its lowest point on Tuesday, day 19, following the day 13 peak. Gold is now poised to confirm a new daily cycle.
At 19 days, gold has entered its timing band to print a daily cycle low. Wednesday saw Gold regain the 50 day MA and form a swing low. Now a break above the declining trend line will confirm a new daily cycle.
If day 19 is confirmed as the daily cycle low, then gold would have printed a right translated daily cycle. Therefore our expectation is to see gold go on to print a higher daily cycle high in this new daily cycle.