ΣL Gold Composite - 30th November 2023 | @ 56 Days | - 2.34%
Last trade: - 2.34% | 'A' class signal detected in Sigma-L Gold composite (XAU vs USD/EUR/CAD/GBP/CHF/AUD/NZD/SGD/JPY). Avg. wavelength of 56 days - 16 iterations since Aug 2021. Currently troughing
ΣL Cycle Summary
Here the excellent periodic wave in gold, around 55 days average wavelength and measured against a composite of major world currencies, has likely troughed in late November. The recent pullback follows a bullish move that started around the end of October 2023 and very likely indicated a trough of larger magnitude had occurred. The next peak is due on Christmas Day, with a touch of frequency modulation creeping in recently. Although very small (~ 2 days), the modulation is arising from detection of a slightly faster but so far low powered correlation, as shown below in the time frequency plots. Given the wonderfully stationary nature of this wave over time, we expect that modulation to dissipate over the next few iterations. Across currencies, the very recent move up in gold (from a likely trough of this component) has been most notable when set against the US Dollar, likely due to the continued recent weakness in the greenback.
Trade Update
See also: Live ΣL Portfolio & History
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous post for this instrument, linked below.
Type: Sell - ΣL Gold Composite 8th November 2023
Entry: 8th November 2023
Exit: 30th November 2023
For a composite analysis, each constituent’s respective gain over the period is displayed, in descending order. The average of the constituent gain is also shown.
Constituent Gain:
XAUNZD (-0.41%)
XAUAUD (-1.24%)
XAUGBP (-1.61%)
XAUCHF (-1.87%)
XAUJPY (-2.08%)
XAUEUR (-2.64%)
XAUSGD (-3.15%)
XAUCAD (-3.25%)
XAUUSD (-4.77%)
Composite Average Gain:
- 2.34%
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: A - learn more
Average Wavelength: 55.77 Days
Completed Iterations: 16