Technical indicators could be aligned for a powerful and extended move up in the wake of the Fed baby taper. The fix was clearly...
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Goldbugs, click here. The red oscillator approximates a cycle of 5 hours to 1 day. The blue oscillator approximates cycles of 2-3 days. The yellow represents a 5 day cycle, which may or may not appear. Often the 2-3 day cycle waves are of larger amplitude, obscuring the 5 day cycle. The green line represents cycles of 8 days or a little longer.The histograms at the bottom of the chart relate to those oscillators. The cycle channel lines identify likely cyclical support and resistance areas where reversals are more likely. These lines lag, so that when price begins to cross the lines in the opposite direction of the current trend, a reversal of cycle phase is indicated to be under way. The chart at the bottom of the page uses slightly different algorithms, but the principles are the same. If these charts help you in your trading, please support them with a regular contribution via the button below.
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