Loading ...Gold Cycle
I have Gold on day 21 and Price broke below my Trading Cycle (TC) uptrend today in the early part of my timing band for a TC Low. Normally, however, a Cycle Low is the lowest price print in a cycle and right now, day 10 had a lower print at 1309.
My colleague, Norvast has identified Oct 10th as a potential important Low for Gold using his Fibonacci & Lucas time series triangulation so perhaps we bounce a bit before finding the next TC Low.
The real question is if the next TC Low will also be the longer Intermediate Cycle Low as well. From a Time perspective, it would be early at 4+ months but possible.
Watch my Red IC downtrend line. If we are still in an IC downtrend, Price may test but should not break this line before moving lower.
Well, we got a cycle low below $1309 pretty quickly on 4 October! It would be interesting to see if the full low comes in on 10/10/2016 as above.
Dave, Most cycle guys work with a timing band as predicting a specific date is obviously quite challenging. Norvast and I are trying to narrow down my normal timing band with his Gann based triangulation.
Lows, however, are only confirmed by price action after the low. For all we know the TC Low may have been today or even perhaps later next week or even the week after. Hope this helps.
Hi,
I am new to this forum. I like your work. From the action I see in the miners I believe we need a final wash-out as too many investors still hoping for a bottom, but have no clue about the market. From a timing perspective 10 October seems possible, but maybe too soon. I believe we will hit bottom in mid Nov time frame. Looking at interim triangle consolidation patterns from 2001-2010 however I see mainly higher lows or secondary lows at same level, not lower lows. Confusing.