Failed cycle occurs when price moves below the previous cycle low (it is a term for this phenomenon, it does not mean the cycle has failed in any way in itself) A cycle “fails” when price drops below a previous cycle low, breaking the pattern of higher lows required for an Uptrend
Note
A failed shorter cycle is a prerequisite for a longer cycle’s decline. So a failed daily cycle (price breaking below prior DCL) often signals the start of an intermediate cycle decline
