It’s Getting Late

Monday was day 30 for gold’s daily cycle. Gold’s daily cycle normally runs from 18 to 24 days, sometimes stretching to 28 days. So at 30 days gold is ready to print a daily cycle low.

2 glod

While gold can still go lower, it is testing its outer limits of its daily cycle timing band. And after such a big move lower, gold would benefit from a narrow range day that prints a lower low. That would ease the parameters for forming a swing low. Any swing low now will likely mark the daily cycle low. So while we keep an eye on gold, we should also keep an eye on the dollar.

1 $$$

Monday was day 21 for the dollar’s daily cycle. The dollar has already entered its timing band to seek out a daily cycle low. A swing high now will likely mark the cycle peak, which should send the dollar into its daily cycle low. And when the dollar finally breaks lower, that should send gold higher.

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One thought on “It’s Getting Late

  1. Pingback: Swings | Cycle Trading

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