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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The wave ‘4’ correction was confirmed today with a sharp drop to a new low in the pattern.
The price broke the previous wave ‘3’ low at 1.0722 today,
which confirms wave ‘5’ of ‘iii’.
The larger wave (iii) blue still has a long way to go before hitting its target area.
I am looking for wave (iii) of [c] to complete below 1.05 if all goes to plan.
So the price has a way to go before we should see any significant rally to begin wave (iv) of [c].

Tomorrow;
Watch for wave ‘5’ of ‘iii’ to complete in the area of 1.0650 at a minimum.
If wave ‘5’ closes the trend channel,
that will give us a low near 1.0600 when all is done.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The day started with a spike to a high of 1.2686 in wave ‘c’ of ‘ii’.
that compelted three waves up to a lower high,
and the reversal off the top has been impulsive enough to suggest wave ‘iii’ is now underway.

Wave ‘1’ and ‘2’ should complete another lower high soon,
and then we should see a sustained decline in wave ‘3’ of ‘iii’ by the end of the week.

Tomorrow;
Watch for wave ‘ii’ to hold at 1.2686.
Wave ‘1’ and ‘2’ could even be done by tomorrow evening.
A sharp move below 1.2517 will signal wave ‘iii’ of (iii) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays rally has moved up the wave count faster than expected.

I am now looking at the idea that wave ‘iii’ of (iii) is underway here
wave (iii) has an initial target near 152.30.
This is the level where wave (iii) reaches 162% of wave (i).
And we should see five waves up complete near that level.

Tomorrow;
Watch for the wave ‘i’ top to hold at 149.57.
Wave ‘iii’ of (iii) is expected to complete above 151.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

What a difference a day makes!

I think todays session marks the biggest one day decline in the last year.
The action is very impulsive looking,
and there is no mistaking the possible five wave pattern off the highs here.
The market has retraced the rally in wave (v) of [v] by breaking the wave (iv) lows.
The selling into the close this evening has also broken the previous wave (i) high.
the next support below here lies at the wave (ii) low at 37750.
And that is also the area of the previous wave [iii] top,
so we should see significant support in this area.

It is easy for me to let a sharp decline like this get the better of me!
So I am just going to char this as we go along.
If it develops into a larger decline over the coming week,
then we can start to get excited!

Tomorrow;
watch for this decline to complete five waves down in wave (i) blue.
I am looking at the wave (ii) low as a serious support for this decline.
We will see how it develops.
There is every possibility that we see a bounce tomorrow so that could be a second wave, (ii)?

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has broken the 2000 level today with a sharp drop off into wave ‘iii’ of (iii).
the action today ruled out last nights count for wave ‘2’ of ‘iii’.
And now it seems wave ‘3’ of ‘iii’ is in full swing here.

If this pattern is correct,
then we should see further downside for the rest of this week as wave ‘iii’ pink plays out.

The next level of support here lies at the previous wave (i) low at 1972.
A break of that level will confirm wave (iii) blue is underway now.
So that level is critical to this overall wave count in wave [c].

Tomorrow;
Watch for wave ‘iii’ pink to continue lower and complete five waves down with a break of 1972 at a minimum.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is getting very close to invalidating this wave count for wave (i) and (ii) now.
The reversal across other markets has not affected crude oil yet.
We will see if there is a spill over into this market tomorrow.
In any case,
the recent wave [iv] high must hold at 79.22.
And wave (iii) of [v] must turn lower again before the end of this week.

Tomorrow;
Watch for wave ‘i’ of (iii) to drop back and break the wave ‘a’ high at 74.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The reversal today has wiped out the gains of the previous 6 trading days.
The market has now reached the previous wave ‘iv’ lows.
And so far that level is offering support.

This decline has not proved anything yet,
but it is enough to suggest the possibility of wave (i) down here.
And that is what I will be concentrating on as this week goes on.

I have shown a five wave pattern off the highs for wave (i) down,
but this is just speculative at the moment.
I would really like to see a break of support at 4880 to complete wave (i).
We will see.

Tomorrow;
Lets see how the market reacts to the decline tomorrow.
The larger the rebound, the less likely wave (i) is.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver took a hit today and now I think we can rule out the triangle wave (iv) idea.
the price has broken the wave ‘a’ lows at 22.12,
and that has broken the pattern.
I have labelled wave (iv) as complete at the Feb 1st high of 23.24.
And now wave (v) is heading lower in three waves as part of the ending diagonal wave [c].
Wave ‘c’ of (v) should hit the lower trend line at 21.40.
But the lower wave ‘c’ of (v) goes,
the more unlikely the ending diagonal pattern is.

Tomorrow;
Watch for wave ‘c’ of (iv) to hit the lower trend line near 21.40.