Good evening to one and all.

The Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

If wave (v) of [i] is now complete then todays decline should begin the correction into waeve [ii].
We have a sharp drop off the session high in place.
This drop is not enough to confirm wave ‘i’ of (a) just yet,
I would like to see a break below the wave ‘iv’ triangle low as the initial signal of a reversal pattern in play here.
After that,
wave ‘ii’ should hold below the high at wave [i] early next week.

Tomorrow;
Watch for wave ‘i’ pink to break below the wave ‘iv’ low at 1.0510.
I will be looking for five waves down in wave (a) next week.
This should be the beginning of a prolonged decline into wave [ii] over the coming weeks.

GBPUSD

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GBPUSD daily.

The price has dropped out of the trend lines pretty convincingly today and this does raise the possibility that wave (a) is now underway.
the low of wave ‘iv’ has not broken yet,
that level will mark the initial signal that wave (a) is underway.
I would like to see five waves down in wave (a) over the next few days.
A break break of the low at 1.1763 again will pretty much confirm wave ‘B’ is underway.

Tomorrow;
Watch for wave (a) to continue lower and complete at least three waves down to break the wave ‘iv’ low at 1.2105.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The rally today was large enough to hit the minimum target for wave (c) at the wave ‘b’ high of 137.98.
I think we can say now that wave (B) is done at this weeks lows,
and wave (c) is at least underway now.
I am pretty sure we have another pop ahead of us for wave (c) to complete in the area of 139.00.
The internal pattern of wave (c) requires a fourth wave correction and then a rally in wave five as shown.
Once the larger pattern in wave [a] is complete,
then we can look lower again into wave [a] by the middle of next week.

Tomorrow;
Watch for wave ‘iv’ to correct lower into the 137.00 level.
Wave ‘v’ will then rally from there early next week to complete five waves up.

DOW JONES.

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DOW daily.

The Dow has broken through the initial support zone just above 33000 today.
While this does not confirm the pattern,
I am taking this as a vote in favor of the bearish count.
And now I am looking to the completion of a five wave pattern lower in wave ‘i’ early next week.
The next level of interest below lies at 32400.
This marks a pivot low within the previous wave ‘iii’ rally.
The next lower support lies at 31700,
but I am not that ambitious for wave ‘i’!

The key point here is for a five wave pattern to complete in wave ‘i’ pink as shown,
and I don’t think we are there just yet.

Tomorrow;
A massive options expiry day happens tomorrow.
So its anyones guess how that will affect the trade.
In terms of the pattern,
Wave ‘3’ of ‘i’ may need another step lower to complete its internal pattern.
I would like to see wave ‘4’ complete its correction below 33400.
In that case the previous support will act as resistance to this new pattern.

GOLD

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GOLD daily.

Gold is close to completing wave ‘a’ of (ii) at this evenings lows.
The actoin has been very choppy in a very tight range this evening.
So I suspect this is a small correction within wave ‘c’ of ‘a’.
In this case,
wave ‘c’ will drop once more to complete a five wave decline internally.
And I am still looking for wave ‘a’ to hit that 1765 level before wave ‘b’ takes over.

Tomorrow;
WAve ‘a’ is close to completing three waves down now.
Watch for wave ‘c’ to complete with a drop into 1765.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave (ii) has hit the Fib target area today and so far we have a failure and small reversal in play.
The price has not dropped far enough to suggest wave (iii) is underway yet.
Only a break below 73.00 again will favor the idea that wave ‘i’ of (iii) is in play here.
I am taking a cautious approach for the moment,
as I am aware that the alternate count can still be aplied here for wave (c) of [ii] in the red box.
Even this alternate count will allow for a series of corrections as the pattern develops.

The main pattern is working reasonably well for the moment,
But I will await for confirmation that wave ‘i’ of (iii) in underway.

Tomorrow;
Watch for wave ‘i’ of (iii) to fall back below the 73.00 again to signal that wave (ii) is complete and that wave (iii) is beginning.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

the S&P has now made a break below the previous corrective range in wave ‘4’ of ‘c’.
This is a positive move for the main wave count,
as support has now been broken in the pattern,
and because of that we can concentrate on building that larger five wave decline in wave ‘i’ pink.

The ideal target level for wave ‘i’ to complete lies at 3693.
A break of that level will bring a full retracement of the rally in wave ‘c’ of (ii).
I know it might seem a big ask at the moment,
but a solid five wave pattern in wave ‘i’ should be able to achieve that.

Tomorrow;
I am not convinced that wave ‘3’ of ‘i’ is complete at todays lows.
The internal pattern of wave ‘3’ looks like it needs another step lower.
Watch for wave ‘3’ to complete a clear five wave pattern before turning higher in a correction in wave ‘4’ as shown.

SILVER.

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SILVER 4hr.

SILVER daily.

Silver has traced out a three wave decline off the top of wave ‘4’ so far.
I am looking for a clear five wave pattern lower to confirm the trend change into wave ‘5’ red,
just like I have mentioned in the stock market,
five waves down is the key!

I am suggesting that the sideways action this evening is a correction in wave ‘4’ of ‘i’.
And if that is complete now,
then we need a further decline over the coming days in wave ‘5’ of ‘i’.
When that actoin completes,
then I can get interested in the potential for a larger decline into wave ‘5’ red.

Tomorrow;
Watch for wave ‘i’ to complete five waves down over the coming few sessions.
The price should hold below 23.50 as wave ‘4’ and ‘5’ complete.