Good evening folks, the Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Another day of declines has forced me to rethink this short term wave count.
I am now suggesting that wave (iv) blue is complete at last weeks highs.
The price is now extending lower into wave (v) and the action today suggests that wave ‘iii’ of (v) is in force.
Wave (v) of [c] has already broken the 1.05 handle,
and it does not look like we are done here yet.

Tomorrow;
I am going to track this wave (v) pattern for the rest of this week.
It seems wave ‘iii’ of (V) will find a low near the lower trend channel lines at about 1.0450.
Wave ‘iv’ and ‘v’ will create one more step lower and complete the larger wave (v) by Fridays evening possibly.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We will start on the 4hr chart again tonight.

I have changed the wave count for this overall decline off the top completely tonight.
Its still a five wave pattern overall.
But the wave count is one degree higher than before.
So now we are tracking wave ‘1’ red to the downside.

The continued declines this week have pushed the limits of the previous count,
and now I have labelled the new low as wave [iii] of ‘1’ getting close to a completed pattern.

I am not convinced on the internal labelling of wave ‘1’,
but if I am correct here,
then wave [iv] should correct higher in three waves over the coming week.
And that correction can rally back into the 1.2500 area again.

Tomorrow;
For the next few sessions I will just keep on tracking the final moves in wave [iii].
Wave [iv] will come in good time.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

It’s a day of changes it seems.
I have switched to the alternate count for USDJPY also tonight.
The continued rally this week is better viewed as the final leg up in wave [v] green.
So I am now tracking wave (v) of [v] of ‘3’ into this new high.

The pattern in wave (v) looks like an ending diagonal at this point.
A series of three wave rallies should complete this wedge pattern up above 150.00 over the coming few days.
And then once we get there I will begin to look for a reversal into wave ‘4’ red.

Tomorrow;
Watch for wave (v) to complete a five wave pattern for the rest of this week.
We should see a small correction into wave ‘iv’ of (v) starting tomorrow.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The stock market is beginning to act like a third wave decline is now in force today.
Another step lower this afternoon has brought wave ‘iii’ to a close now I think.
The low of the session broke solidly below the equality level for wave (i) and (iii) at 33446.
The market has bounced off the session low this evening
and I am now suggesting that wave ‘iv’ of (iii) will get going from here.

Wave ‘iv’ should be a clean correction to the upside.
And I want to see this correction complete below 34000 at the wave (i) low.
That should be the very upper end of any correction higher from here.

Tomorrow;
Watch for wave ‘iv’ pink to take over from here and to trace out three waves up towards that 34000 level again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold hit the slippery slope today also,
and now the price has broken back below 1900 again and we are sitting at a levels not seen since march this year.
So it’s been a long road to nowhere for gold.

The current count suggests a decline in wave ”iii’ of (iii) is now underway.
and if that is correct,
then we have more to go in this leg down in wave (iii) blue.

If we take a simple 162% Fib extension off the wave (ii) high,
then we get a target for wave (iii) in the area of 1793 again.
That might cause some heart attacks when I say that,
but lets take it one day at a time.

Tomorrow;
Wave ‘iii’ pink has some work to do if the price will make it to that 1790 target area when wave (iii) is complete.
Wave (i) and (iii) will reach equality at 1850,
so that gives us a lower end target area for wave ‘iii’ pink.

The price should begin to correct higher tomorrow in wave ‘4’.
Watch for wave ‘4’ and ‘5’ to complete that five wave pattern for wave ‘iii’ by the end of this week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has ruled out the short term count today with a rally back to a new high this evening.
All is not lost though,
I do believe the market is in a topping process here.
So we will reach a final higher for wave ‘C’ soon enough.

The 4hr chart shows the new count for wave ‘C’ tonight.
Wave [v] is back above the upper trend channel line again tonight.
This is a second throw-over in this pattern.
Wave [v] is getting to the end of its runway now.
So I would not be surprised to see a sharp drop befor4e the end of this week even.

Tomorrow;
Watch for this vertical move to complete wave (v) of [v] by Friday evening.
A break below the wave (iv) low at 87.83 is the new signal level to call for a final top in the larger pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

It looks like we have five waves done now complete in wave ‘iii’ of (iii) at todays lows.
The low today broke below the wave (i) = (iii) level at 4269.
And market also sliced through the lower trend channel line.
So now we have a target hit and a complete pattern for wave ‘iii’.
I think we should look for a correction higher now in wave ‘iv’ of (iii) over the rest of this week.

Tomorrow;
Wave ‘iv’ should trace out three waves up in wave ‘iv’ towards the 4300 level.
But I want to see the wave (i) low at 4335 act as resistance to this rally.
If we see a break above that wave (i) level again I will be forced to do some serious thinking on this pattern.

Watch for wave ‘iv’ to correct higher in three waves over the coming few days.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Ok,
We have a low this evening back near that target level at wave ‘i’ again.
The low of wave ‘ii’ seems to be holding the price so far.
So I think we can call wave ‘1’ of ‘iii’ now complete,
and wave ‘2’ should correct higher from here.

Tomorrow;
watch for wave ‘2’ of ‘iii’ to correct higher over the next few sessions.
I want to see wave ‘2’ complete near the 23.00 handle again,
maybe the price can turn down into wave ‘3’ before the close on Friday again.