This week we see significant weekly cycles on gold. When these cycles come together as they are doing, there's a 90% probability of a reversal in trend. However, we should also be on alert for a potential acceleration just in case the 10% possibility comes in.
Take a look at this weekly chart.
In this you can see a series of histograms below the price data. This is not volume. These are our proprietary Profit Finding Oracle signals. They are predictive – in other words they are known in advance. And when we see significant spikes, we are on alert for market reversals. You can also see that historically, previous spikes have aligned with turns and changes in trend. The spike showing for this week is significant and one of the largest that we have seen in the last three years. By the way, you will also see that future spikes are forming.Returning to this week, we need to be on alert for a potential trend change.
However, the story doesn't stop there.
Here is a daily histogram set and you will see that we are seeing peaks for the next 2 days suggesting that these cycles are peaking round about now and the market could turn at any point.
#gold##BearishSentiment##trading#
Reprinted from FXStreet，the copyright all reserved by the original author.
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