Gold, A True Rally? – Time Cycles Cannot be More Accurate!
Jul 18, 2024
Time Cycles is a very important Technical Analysis study and is surprising that such basic concepts are rarely focused by traders.
It is simply amazing to see how easy Trading becomes if one is aware about such reversal time areas with exact date to the very minute.
MCX Gold Daily 51 Days Time Cycle:
We used the concepts of Hurst’s Time Cycles and found actual cycles working on Gold prices. It is amazing to see it can be applied simply across Daily, Hourly, 15 minutes time frame and all working extremely well.
We can see that all the major lows formed on Gold is near 51 days cycle including the recent one formed at the start of July 2024 near 71685 and a rally of more than 4% from there has already been seen, we can expect prices to continue moving upwards as long as the cycle low which is near 71685 remains protected on the downside. We have given hints about possible reversal on the upside in our short term commodity report. The next cycle is due in September 2024, till then we are expecting the cycle low to remain protected.
To summarize, once the trend is clear on bigger time frame a trader can then drill down to smaller time frame charts in order to time the exact entry using simple methods of Time and Candlesticks. Many traders complicate it by combining various indicators but it is not required as we can easily trade keeping things simple.
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