Smoke ’em if you got ’em

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Gold came close, but no cigar, to confirming an new daily cycle on Tuesday.

1 gld

Gold printed its lowest point on Thursday following the daily cycle peak. Gold broke above the 7/21’s high on Wednesday and delivered a clear and convincing break of the declining trend line to confirm the new daily cycle.

The Miners also confirmed a new daily cycle.

2 gdx daily

The Miners delivered a clear and convincing break of its declining trend line to confirm Wednesday as day 2 for the new daily cycle. Please note that the day 22 low closed above the lower daily cycle band. That signaled that the Miners remain in their daily uptrend. They will continue in their daily uptrend unless they close below the lower daily cycle band.

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5 thoughts on “Smoke ’em if you got ’em

  1. “Gold came close, but no cigar, to confirming an new daily cycle on Tuesday.”

    “Gold broke above the 7/21’s high on Wednesday and delivered a clear and convincing break of the declining trend line to confirm the new daily cycle.”

    First sentence is wrong isn’t it? Rest of your update seems to say a new cycle is confirmed.

      • Ah, I see now, my mind didn’t pick up the talk of different days. I just assumed the opening line was talking about the most recent session. Of course, it would help if I had a better idea generally of what day of the week it was! 😛

  2. Hi

    When you’re saying it almost made a daily cycle low but didn’t, what happens next? Does gold contuninue to rally and make new highs?

    I just found your site and you have insightful information on daily cycles.

    • Jimmy,

      Gold was in its timing band for a daily ycyle low. The swing low and trend line break confirms thatgold has started a new daily cycle.

      LM

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