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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well,
we have spent the bulk of this weeks trading ranging between 1.06 and 1.07.
The action is corrective to the upside in my view.
and the next major move should be lower into wave (iii).

I have shown a possible running flat correction in wave (ii) complete at todays high.
that completed at 1.0678.
Wave ‘i’ of (iii) must now fall back below 1.06 to confirm wave (iii) is underway.
And next week will be taken up by wave (iii) down as the price moves towards the target level at 1.0400 again.
This level is where wave (i) and (iii) reach equality.

Monday;
Watch for wave (ii) to hold at 1.0678.
Wave (iii) down must continue in five waves towards the target.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have shown a running flat correction in wave (ii) complete at todays highs in cable also.
The top of wave (ii) now lies at 1.2468,
the price moved sharply lower after hitting that level.
And now I have shown wave ‘i’ of (iii) complete at todays lows.
If this pattern is correct,
then we are in for a sustained decline in wave ‘iii’ of (iii) of [iii] of ‘3’ next week.
And that larger wave [iii] green could easily carry cable back to the 1.20 area when complete.
We will see how it goes I suppose,
but I think this possibility is worth keeping an eye on.

Monday;
Watch for the wave (ii) high to hold at 1.2468.
Wave (iii) down should trace out five waves down as shown.
I am suggesting a low in wave (iii) near the 1.22 level again.
The larger wave [iii] green will reach 162% of wave [i] green at 1.2136.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Just when I think we will see a correction begin in USDJPY,
then we see another possibility emerge.

Wave (i) blue is not over yet it seems.
The price did spike lower today which fit with the idea of a reversal into wave (ii).
But now we have a rally back towards the highs of the week again.
And now wave ‘5’ of ‘v’ takes over the pattern again.
Wave ‘v’ must break to a new high to complete the larger wave (i),
and then I can look for a turn lower into wave (ii) next week.

Monday;
Watch for wave ‘v’ to complete with a break above 154.78.
Wave ‘a’ of (ii) will begin with a break of the wave ‘4’ low at 153.58.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We got a new low in wave ‘v’ this morning and that completes the pattern in wave (iii) blue.
The market then rebounded back to meet the previous fourth wave high above 38000 again.

I am suggesting this afternoons rally is wave ‘a’ to begin the correction higher into wave (iv).
WAve (iv) must complete a three wave pattern higher next week,
and that correction must not break the wave (i) low at 39013.
A break of that level will invalidate the pattern.

Monday;
This pattern requires a decline into wave ‘b’ of (iv) to form a higher low above wave (iii).
And that should be done by Monday evening at the latest.
If the pattern goes according to the plan,
then wave (iv) will be done by midweek,
and we can look forward wave (iii) down getting underway by the end of next week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is still holding the lower high today despite challenging that high earlier.
I continue to show this action as a correction higher in wave ‘b’ of ‘a’.
the price filled the trend channel at the highs.
and then fell back into the midrange of the week by the afternoon.
If this pattern is correct here,
then wave ‘c’ of ‘a’ is now underway this evening.
We should see a five wave decline into wave ‘c’ early next week.
And the minimum target for wave ‘c’ is to break the wave ‘a’ low at 2324.

Monday;
Watch for wave ‘c’ down to make progress lower in five waves to complete the first wave down in the larger wave (iv) pattern.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

A wild day in crude today and the patterns have been shaken up because of that.
I have shown a new pattern off that double top this evening.
The first step lower is now labelled wave (i),
and the price shot higher today in wave (ii).
Wave (ii) traced out three waves up.
And the price immediately shot lower again to wipe out all the gains.
This move is labelled wave ‘i’ and ‘ii’ of (iii).
And the price must continue lower into wave (iii) next week.

Monday;
Watch for wave ‘iii’ of (iii) to drop to a new low for the pattern with a break of the 80.00 handle again.
That will be enough to confirm this pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P dropped below 5000 today which now wipes out the gains back to February 20th.
And I must admit,
the action over the last few weeks is much more impulsive looking than the action that brought the market into the highs earlier this year.
It is getting easier to believe that this market has turned for good now.
We will see how it unfolds,
but I am happier with the pattern here than I have been in a while.

If you look at the 4hr chart you will see that the recent decline has now broken back into the rising channel again.
This is another hint that the throw over top is now complete at wave (B).
and wave [i] of ‘1’ of (C) is now underway.

As for the short term count,
a new low this morning completed a five wave pattern in wave ‘iii’,
and now I am looking at a correction higher into wave ‘iv’ of (iii).

That larger wave (ii) blue requires another step lower in wave ‘v’ of (iii).
And we should get that next week if all goes well.

Monday;
Watch for a correction in wave ‘iv’ of (iii) to trace out three waves up as shown.
I would like to see wave ‘iv’ top out at or below 5056 at the wave ‘4’ high.
Wave ‘v’ of (iii) sould fall back below 4900 again when complete.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The triangle in wave ‘b’ is still in play tonight although the internal pattern is not as clean cut as it was last night.
the wild spike earlier today brought this patter almost to breaking point.
But it is still alive tonight,
and I will follow this pattern until it is no longer viable.

Monday;
Watch for wave ‘b’ to top out and reverse immediately on Monday morning.
A break of 27.56 will confirm wave ‘c’ is underway,
but I would like to see a drop into support at 26.26 to complete wave (a) down.