Good evening to one and all, and may Lord of hosts Bless you tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well we are half way there!
It took a long time for this market to roll over off a lower high wave ‘B’.
And now it has taken only two days to pretty bring the larger triangle pattern back in line again.

so.
if wave ‘C’ down is now in force,
then we should expect at least a drop into 1.1600 next week to fill out the channel shown on the 4hr chart.
And from there we can assess if a lower target for wave ‘C’ is suitable.

Monday;
WAve (iii) down should complete early next week.
The pattern needs another corrective rise and then decline in waves ‘iv’ and ‘v’ to close out five waves down in wave (iii).
1.1985 should hold the price for now as wave ‘iv’ completes.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has extended the decline this week into wave ‘iii’ of (iii).
The price has not created a suitably large correction higher yet in wave ‘iv’ pink.
So I will look for a three wave move higher on Monday in wave ‘iv’.
And then wave ‘v’ should take over again.

The price has actually hit the previous wave (ii) low at 1.3800 today which is a good sign for the larger pattern.
The price is now holding above that level this evening.

Monday;
Watch for wave (iii) down to complete a five wave pattern by Tuesday evening at the latest.
The 1.40 level should now hold from here on.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have shown a possible ‘i’ ‘ii’ pattern now developing after yesterdays decline ruled out the wave ‘iii’ scenario I was working with.
Wave ‘ii’ should complete a three wave correction into that rising trendline again.
And then wave ‘iii’ of (iii) is expected to move higher again towards the end of next week.

Monday;
The low at 109.18 must hold for the bullish count to remain in force.
Watch for three waves down in wave ‘ii’ to complete by midweek.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well well well!

The market has actually fallen into the lower support at wave [i] this evening, reaching a low of 33291.
This action is pretty much bang on what I was hoping for to confirm the bearish non confirmation between the dow on and the s&p.
So now the market has a choice to make.
Use this double bottom as support,
or just go full on into a large degree third wave decline.
That is the focus for next week.

Monday;
we are close to completing wave ‘iii’ down this evening,
so I expect wave ‘iv’ will come in on Monday and then wave ‘v’ will complete wave (i) down by midweek.

Ideally we will have a (i) (ii) pattern in place by the end of next week.
And then wave (iii) of [iii] down will punch out of the channel and accelerate lower the following week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold made a serious move into the bearish count this week.
It was about time really!
I was beginning to doubt myself,
but thats a normal day in the office for me!

Again I think we are moving within a third wave down in gold.
The price is pretty close to that initial target at 1750 for the alternate count.
If we reverse higher next week in an impulsive manner,
then we are looking good for that alternate run higher into wave ‘3’.

As for the main count.
The possibility of a decline into the 1650 area is very much on the cards now.
Maybe even lower depending on how extended this wave [iii] green will get next week.

For the moment,
the initial target for wave ‘C’ to complete lies at 1674.
That level marks the previous extreme low of the pattern.

If wve (iv) is finished at todays highs,
then wave (v) of [iii] should continue lower for until Tuesday.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Three waves up into todays highs opens up the idea that we have a second wave in play today.
If the price falls below 68.55 again next week then I will take the downside potential very serious here.
It sure does fit with the scheme across the financial markets this week if the top is in here.
But I will have to await confirmation in the pattern.

Monday;
Watch for a break of 69.59 again to signal that a five wave pattern lower is building here.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

After todays action I can now see a five wave pattern in place off the highs.
the market has now opened up the possibility that there is a top forming here again.

If we see a corrective lower high build early next week,
then I will be on board with a possible acceleration lower into wave ‘iii’ later next week.

Monday;
Watch for wave ‘i’ to complete a five wave pattern off the high and then turn higher into wave ‘ii’.
If this pattern is correct,
and the high is in for wave ‘5’ blue,
then the S&P is about to get very interesting on the downside again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays spike higher is viewed as wave (iv) up within the larger wave [iii] green.
It is hard to know if todays rally was all of wave (iv),
or if we will get a larger three wave pattern developing over the coming sessions.
We will just have to wait and see on that front.

If wave (iv) is complete now,
then there is more room to create a five wave pattern in wave [iii] down,
So I am looking for wave (v) of [iii] to complete early next week with a drop into the 25.00 handle again.

Monday;
Watch for wave [iii] down to complete next week,
and that should give way to a consolidation i wave [iv] towards the end of the week.

Thank you all for hanging on with me this week.
The patterns are finally starting to work for us again,
so hopefully som opportunities can be opened up over the coming weeks.

I am looking forward to getting back into it next week,
as these patterns are looking very interesting again!

God bless you all this weekend.
Shalom from galway,
enda.

PS;

This story really struck me when I saw it last week.
And it brought to mind a very famous verse from revelation 13.

14 And deceiveth them that dwell on the earth by the means of those miracles which he had power to do in the sight of the beast; saying to them that dwell on the earth, that they should make an image to the beast, which had the wound by a sword, and did live.

15 And he had power to give life unto the image of the beast, that the image of the beast should both speak, and cause that as many as would not worship the image of the beast should be killed.

https://www.independent.ie/videos/the-irish-made-tallest-moving-sculpture-in-the-world-that-can-mimic-your-likeness-40197493.html

All we need now is a global dictator to plaster all over that giant and we have the end of the world in sight!