Loading ...Gold Cycle update
I have Gold making a new high on day 18 but would like to see the miners make one more push into a higher high out of their Bull Flag before they top. The XAU made a slightly higher high today but GDX and the HUI did not. GDX started bullish but a 10 day top (so far) would not be that inspiring, IMO.
So in your Cycle work the longer the time before a daily cycle top the more bullish and the shorter the time the more bearish
right ?
That is correct. Lets use a 30 day Gold Trading Cycle as an example (low to low). Day 15 would be the center of the cycle and day 18 is to the Right of 15 while day 10 is to the Left of 15. Thus the term Right and Left Translated cycles. Right Translated cycles almost always make higher highs and higher lows due to the Time they spend moving up.
Left Translated cycles can lead to a lower low as the Cycle spends more time moving lower than higher. This is the normal scenario but there are many exceptions including the SPX from the Brexit IC Low to the Election IC Low. That cycle was Left translated but made a higher low.