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

It’s been a bit of a strange trade today as people try to swallow every piece of news that has been thrown at us over the weekend.

Putting a price on war, rates and fear is an impossible job to be honest.
I will stick to the patterns and try to read the next move that way!

Ok, on with the show.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

the price has wavered below Fridays highs today and I will admit that wave ‘iii’ is now looking doubtful again.
I am going to give the main wave count for wave ‘iii’ of (i) another day to prove its worth.
If the price rallies back above 1.0616 again that will favor this bullish idea,
but if we fall back below the wave ‘ii’ low again that will raise the possibility that wave ‘2’ is still underway again.

So far the price action has traced out three waves up off the 1.0447 lows.
And until we see five waves up this bullish count will remain speculative.
So we are heading into an important week for the reversal wave count here.

Tomorrow;
Watch for wave ‘3’ of ‘iii’ to push higher to break 1.0616 and continue towards that bullish wave (i) pattern for the rest of this week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is still within the parameters of a rally in wave (c) of [iv] today.
the price is basically flat today,
but the bias is still to the upside in wave ‘iii’ of (c) at the moment.
If the price rallies back above 1.2273 that should be enough to confirm wave (c) and wave [iv].

The same concerns are valid in this wave count also tonight.
If wave ‘iii’ pink fails to break above 1.2273 tomorrow,
that will raise some doubts about the five wave pattern in wave (c).
Lets see how the rally develops tomorrow before making any big changes here.

Tomorrow;
Watch for wave ‘iii’ of (c) to push higher and break resistance at wave (a) early tomorrow.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

It looks like we have three waves up complete in wave ‘b’ now.
The price has turned lower off the wave ‘b’ top and now I am looking for wave ‘c’ of (a) to fall below 147.26 again to complete three waves down off the recent top.
If this wave count is correct,
it is going to be a frustrating trade this week.
Wave (b) will track sideways for the later part of this weeks trade,
and overall we will not see much progress in the price at all beyond a ranging pattern and a road to nowhere.
B waves tend to be quite sticky and annoying.
But we will see how the pattern develops day by day.
First we much complete wave (a) down.

Tomorrow;
Watch for wave ‘c’ to trace out five waves down and break 147.26 to complete wave (a).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action today has retraced Fridays drop and created a slight new high for this fourth wave correction.
Overall I am going to stick with the idea that this is a correction off the lows.
But I will admit that the degree of this correction is up for debate.

At the moment I am suggesting that the rally into todays high is wave ‘iv’ of (iii).
And we should expect a new low in wave ‘v’ later in the week.
The ideal target for wave (iii) remains at 32400 as shown.

The alternate idea here is that wave (iv) blue is underway.
but even in this scenario we should see another decline into wave (v) of [i].
The next few sessions will decide the correct count I’m sure.

In general I want to see further downside this week to confirm the larger wave count in wave [i] green.
That remains the big goal here.
Five waves down in wave [i] of ‘3’ to confirm the next leg down in the market is underway.

Tomorrow;
WAtch for wave ‘v’ of (iii) to turn lower and break 32800 again to confirm the pattern.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold put in a nice sharp rally today and the price is hitting 1862 as I write this evening.
I was suggesting the 1850 area for wave ‘iv’ to complete last week,
so we have gone above and beyond the mark tonight.

The price action has also traced out a five wave pattern off that wave ‘b’ low today.
And that suggests wave ‘c’ of ‘iv’ is now complete.

It is now important that we see a halt to the rally tomorrow,
and a reversal to the downside again to begin wave ‘v’ of (iii).
If the price breaks above 1884 again,
then I will be forced to reconsider the larger pattern again.

Tomorrow;
WAtch for wave ‘iv’ to complete and then a drop back into wave ‘v’ to begin.
The minimum target for wave ‘v’ lies at 1815 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has corrected off the high of wave (a) today and I am suggesting that wave (b) is underway here.
Wave (b) should trace out a three wave drop into the 83.00 handle again,
and then wave (c) should begin off that higher low by Wednesday.

The overall outlook here is pretty simple,
wave [ii] should trace out three waves up this week.
And I am looking at the 50% retracement level at 87.50 again to complete this rally.

Tomorrow;
Watch for wave ‘c’ of (b) to complete a three wave correction near 83.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am working with a similar pattern in the S&P as in the DOW tonight.
This rally is sizeable but I am still suggesting this is a corrective rally in wave ‘iv’.
If this count is correct,
then we will see a decline into wave ‘v’ begin pretty soon.
The minimum target for wave ‘v’ lies below 4200 at wave ‘iii’.
But the ideal target for wave ‘v’ lies at 4100 again.
I know I am reaching into the great beyond when I suggest that low,
but I am only following the ideal Fib target for a third wave.
We will see how it progresses tomorrow.

Tomorrow;
Watch for wave ‘iv’ to top and reverse into wave ‘v’ as suggested.
A break below the wave ‘a’ high at 4270 again will signal wave ‘v’ is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver spiked to a new high in wave ‘c’ of (iv) early today but the price fell back and closed the gap by this afternoon again.
At the moment the price is holding below the wave (iv) high at 22.00.
But the decline off that top is not convincing as an impulse decline yet.

I am not certain about the count for wave (iv) to be honest.
The rally into wave ‘c’ of (iv) is relatively large in comparison to wave ‘a’.
So I am going to wait for tomorrows trade to get a better grasp on this pattern.
If we see a drop back into the previous corrective range below 21.40,
then I will be happier with that wave (iv) idea.

Tomorrow;
Watch for wave (v) of [c] to turn lower and trace out five waves down to break 21.60 this week.