Good evening to one and all,

I pray the Blessings of Messiah Yeshua to you all again tonight.

Here is the weekend video incase you missed it.

And here is a fascinating article on stablecoin which screams ponzi scheme, and just happens to be the driving force behind the crypto craze over the last few years.

https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether?srnd=premium&sref=qpbhckVU

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Ok, not so fast enda.
The action today is corrective for sure.
But the high of the session has ruled out last nights count for wave ‘v’.
So,
I have changed the 1hr chart this evening to show an extended third wave
rather than an extended fifth wave.
In this scenario the correction today is in wave (iv) of [v].
And this pattern suggests one more drop below 1.1500 to complete five waves down.

Monday;
Watch for wave (iv) to complete a three wave correction within the trend channel as shown.
And then a final drop to a new low in wave (v) next week.

This count still allows for wave (D) to complete next week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has failed to complete wave (ii) today
and I am struggling to find a good pattern to fit this action into in wave (ii).
Wave (ii) can still rise further and create a larger pattern towards 1.3750.

But this action may be a hint in favor of the alternate count.
so I will be watching for any impulsive action next week that favors wave [c] of [ii].

Monday;
Watch for wave (ii) to form a top and complete the correction.
A break of 1.3410 again will favor the main count.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have switched to the alternate count this evening for USDJPY.
The action has been leaning that way for a few days,
but the break out to a new high this evening has sealed the deal here.

I am tracking a five wave rally in wave [c] of ‘B’ now.
And the rally today is viewed as wave (v) of [c] still underway.

Monday;
Watch for wave (v) to complete a five wave pattern higher into the upper trend line at 113.00 to complete three waves up in wave ‘B’.
Then I can look for a reversal pattern next week to begin wave ‘C’ down.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The best interpretation of todays action is that we are rallying in wave (c) of [ii].
I have labelled a possible five wave pattern in wave (c) rather than the three wave pattern from last night.
Todays action looks corrective so I am allowing for a pop higher on Monday to finish five waves up.
And then I will look for a reversal pattern into wave (i) of [iii].

The alternate count for wave (ii) is valid also,
but in this case we will need to see a sharp fall on Monday to begin wave (iii) of [iii].

Monday;
wAtch for wave (c) to complete in the area of the 78.6% retracement level at 35100.
We should see a rapid move lower off that second wave to begin wave [iii] down.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The whipsaw action today has ruled out last nights count for wave (i) and (ii).
The price made a new high,
but the retracement this evening is just too far to fit an impulse move up.
The pattern I have shown this evening views todays high as wave ‘b’ of an expanded flat wave (ii).
Wave ‘c’ should fall to break 1745 again to complete this pattern.
And then wave (iii) up will be ready to go.

Monday;
watch for wave ‘c’ of (ii) to complete with a break of 1745 again.
1721 must hold.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has pipped to a new high today but I still believe this to be part of a larger fourth wave correction.
Wave ‘4’ blue is taking the form of an expanded flat correction now.
And that pattern calls for a decline into wave [c] of ‘4’ next week.
Wave [c] should break 74.70 again to complete the correction.
And then wave ‘5’ should run higher to the upper trend channel line above 81.50.
That will finish a five wave pattern in wave (5) of (C).
We will see what happens after that!

Monday;
Watch for wave [c] to continue lower towards 74.70 again to complete an expanded flat correction in wave ‘4’.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The corrective wave (ii) pattern in the S&P is still chugging along here today
and after todays action there is a possibility that wave ‘c’ of (ii) is now complete.

So far the decline off the high is not very impulsive looking.
This decline must develop further on Monday to consider wave (iii) underway.
If we see a drop below 4300 again that will suggest wave ‘i’ of (iii) is underway.
This pattern will be invalidated with a break of 4482 again.
At that point I will switch to the idea that wave [ii] green is still in-force.

Monday;
Watch for the high at wave (ii) to hold at 4430.
WAve ‘i’ of (iii) must fall into 4300 in five waves to signal this pattern is correct.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays action has shook up the short term pattern for sure.
the rally is still viewed as an impulse wave higher in wave (i).
But the sharp spike lower this afternoon went too far to consider wave (iii) was in play.
I am now viewing wave (i) complete at todays high.
And wave (ii) underway off that high.
Wave ‘b’ and ‘c’ should complete three wave down over the next few days.
And the initial target lies at the lower end of the range of the triangle wave ‘iv’ at 22.20 early next week.

Monday;
Watch for wave (ii) to complete early next week and form a bullish higher low as shown.
Wave (iii) up should begin next week.