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HarryAloof
11-17-2014,
The day following lowest point of the cycle decline is day 1 of a new daily cycle low.
Even though the previous Friday saw gold print its lowest point of the cycle decline,
gold also delivered a powerful 3.28% day that forced us to label it day 1 of a new daily cycle.

http://onlinetradersforum.com/attachments/31_gold_daily-jpg.47229/

Gold needed most of this week to consolidate the big day 1 rally that printed on 11/7/14.
Gold consoldiated through Thursday.
Then on Friday gold delivered a powerful follow through day.
Gold rallied 2.25% on Friday, formed a swing low and closed above the declining trend line to confirm a new daily cycle.

Gold is also developing bullishly on its weekly and monthly charts.
Further discussion on gold's weekly and monthly cycle can be found on my blog.