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On the above chart, the most important periods are when both the daily and weekly forecast paths are moving in the same direction. The green arrows show when both forecasts are moving higher (i.e., a ‘buy’ signal with the model), and red arrows are when both models are forecasting lower prices (i.e., a ‘sell’ signal). A blue arrow is shown when the models are in disagreement (i.e., a ‘neutral’ signal).

 

With the above, we can see that when both forecast paths are in alignment, the market tends to move strongly in that direction. I should add that, when the daily and weekly forecasts disagree, that the market has more of a tendency to follow the shorter-term (daily) forecast path - but only when technical action is also in agreement. Take a look at the chart below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The chart below is the most important chart that I track, and is what I use to forecast the near-term direction of the

Gold market. This chart shows the cycle turning point forecast (in aqua), which is a combination of the dominant cycles on the daily chart of the price of gold:

Copyright 2016, The Gold-Wave Trader & Forecast

The above chart shows the daily  cycle forecast, this time without all the clutter. That is, in taking away all of the vertical lines and text (and also the weekly cycle) and then overlaying the daily forecast over top of price action, we can see the model has been extremely accurate in past months. Of course, there is never a guarantee that the near-future will be like the near past.

 

You can see above that the forecasts from the daily and weekly cycles caught most of the major up and down swings seen so far in 2014. Going a bit further, when both paths have been in alignment in 2014, Gold has gained approximately 218 points, vs. only 52 points for the metal itself (as of 6/9/14). Thus, while I won’t always trade the above, I do want to know when these cycles are moving in the same direction – and never want to be against the same.

 

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