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

 

 

https://twitter.com/bullwavesreal


EURUSD.


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EURUSD is still holding in quite a tight range to start the week and this does put strain on the short term count. 
Maybe I have jumped the gun a little calling wave (c) complete at that 1.0893 high. 
It seems like that high is going to break now, 
and that will postpone the turn into wave (d) for another few days. 
the next higher resistance lies at 1.0980. 
so that becomes the next likely turning point. 

Tomorrow;
The overall rally in wave (c) has been very corrective looking in general, 
and this fits very well with the triangle idea here. 
But we will have to wait for another few days to call a top on that wave (c). 


GBPUSD


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A similar spike rally in cable today has brought the price back into the recent highs again at 1.2800. 
The wave ‘ii’ lower high is still viable here, 
but a break above 1.2800 again will call into question the larger wave count in wave [ii] green. 
Right now the invalidation level for this count lies at 1.2893. 
So I am hoping that level is going to hold. 
And wave [iii] down can begin pretty quickly. 


USDJPY.


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USDJPY is pretty close to completing a three wave decline in a channel today. 
Wave ‘c’ of ‘ii’ hit a low of 155.94. 
this low came close to the 50% retracement level of wave ‘i’ , 
so we are in the area for a low to form in wave ‘ii’. 
If the main count is correct here,
then we will see wave ‘iii’ of (iii) of [v] turn higher for the rest of this week. 
Wave ‘iii’ pink will reach equality with wave ‘i’ pink at 160.00, 
so that gives us a solid target for the main count this week. 

If the count here is correct,
then the pattern should have no problem meeting that level. 

Tomorrow;
Watch for wave ‘ii’ to form a low near the current lows. 
A break of the wave ‘i’ high at 157.72 again will signal wave ‘iii’ is underway. 


DOW JONES.


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The Dow is tracking the second wave pattern quite well today. 
The market first dropped sharply to form a higher low in wave ‘b’ of (ii). 
And this evening we have a rebound off the lows to begin wave ‘c’. 
Wave ‘c’ must now rally back above the wave ‘a’ high at 38824 at a minimum. 
That will give us a three wave pattern higher in wave (ii) completing near the 50% retracement level of wave (i). 

After that,
we await an acceleration lower into wave (iii). 

Tomorrow;
Watch for wave ‘c’ of (ii) to carry on higher to break the wave ‘a’ top and complete a three wave correction near the 50% retracement level. 


GOLD


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Gold is still holding in the range of that wave ‘2’ correction today, 
and I am suggesting that wave ‘2’ is only now completing. 
The pattern is a little maddening here to be honest. 
I am looking for a five wave decline in wave ‘c’ to complete this week, 
but the market seems unable to make any progress in either direction really. 
2276 is the level to watch here to confirm that wave ‘c’ is back on track. 
A break of that level should happen in wave ‘3’ of ‘c’. 
So lets see if tomorrow will bring progress in this pattern. 

Tomorrow;
Watch for wave ‘2’ to complete the correction and then wave ‘3’ should fall back below 2300 again. 


CRUDE OIL.


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It looks like crude has now begun the march lower into wave [iii] green today 
and that acceleration definitely fits the profile of a third wave. 

Wave [iii] is best viewed on the 4hr chart. 
And you can see that wave [iii] should break below the wave ‘1’ low at 67.90 again to confirm the larger pattern in wave ‘3’ blue. 

There is another count which suggests this low is now only closing out the initial decline in wave [i] of ‘3’. 
We will see how that goes when the next correction higher begins. 
For the moment, 
wave [iii] of ‘3’ is in play here, 
and there is a good chance that we see a break back to a new low for the year in this wave. 

Tomorrow;
The sharp drop today almost came too early for the main short term count. 
So I will be looking for clarification on this wave ‘iii’ of (iii) idea tomorrow. 
ideally the price will extend in wave ‘iii’ pink and break 71.40 again. 
And then we can look for a consolidation in the price in wave ‘iv’ of (iii). 


S&P 500.


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It looks like the market is rebounding off last weeks lows in wave (iv) now. 
The action has created a higher low in wave ‘ii’ of (v) today. 
and now wave ‘iii’ of (v) will break to a new high to confirm this count. 
The minimum target for wave (v) lies at 5350 here, 
and from there we can look for a topping pattern again. 

Tomorrow;
WAtch for wave (iv) to hold at 5190 and wave (v) to continue higher in five waves as shown. 


SILVER.


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Silver was pretty quiet today also and that has not given much clarity in the short term count. 
I want to see a lower completion to the wave (a) pattern. 
That will allow room for wave (b) to correct higher again later this week.  

Wave ‘c’ of (a) has not completed a five wave pattern lower yet. 
so I am allowing for that to happen tomorrow, 
and from there I will look higher into wave (b) as shown. 

Tomorrow;
Watch for wave (a) to complete with a drop into the 29.00 level again. 


BITCOIN


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FTSE 100.


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DAX.


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NASDAQ 100.


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