Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Another day of ranging action within this rising wedge pattern.
The price is off the highs again today but I can’t get too excited about the pattern yet as the decline is just not impulsive enough yet.
The main takeaway from this weeks trade is that the wedge pattern is still very much dominating the action.
I have shown the level where waves ‘a’ and ‘c’ reach equality at 1.1125,
That level does offer an attractive target for wave ‘c’ to be honest,
So if the price turns higher on Monday,
Then I would suggest that level is where we will end up to finish this pattern.

Monday;
Watch for a sign that wave ‘c’ is complete with a drop below the lower trend line of this wedge formation.
Wave ‘i’ of © should fall into the 1.07 handle in five waves and that remains the aim for the first half of next week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable did rally back into that upper trend line again today and that pretty much completes the expanding wedge wave (v) now.
This is a terminal pattern in this whole rally phase in wave [v] of ‘A’.
So I am looking for the price to turn lower again early next week in wave (i) of [a] of ‘B’.
If we see the price drop below the wave (iv) level at 1.2350 next week,
That will confirm wave ‘A’ is complete and wave ‘B’ has begun.

Monday;
I know this is getting very frustrating here watching this pair grind higher in this way.
I am suggesting that we have another completed pattern here,
And remember that an expanding wedge pattern is a terminal wave.
So this pair should reverse soon.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has traced out a three wave rise into todays highs and this action does add weight to the idea that a bearish reversal is building into wave [c] now.
Wave (ii) may not be complete just yet though.
Only another decline back below the wave (b) low will confirm that idea.
So that is the next step in this pattern.

Monday;
Watch for the price to form a lower high in wave (ii).
Wave ‘i’ of (iii) should fall below 133.31 again to confirm this pattern.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action this week is just enough to get me interested on the downside again,
but its just not enough to confirm anything yet!
And that is the limbo I live in these days.

We have a possible wedge pattern in place off the highs and that takes the wave ‘i’ label.
And now this evening we have a three wave retracement back to the 50% Fib level again.
While I want to shout about the danger and the possibilities again tonight,
I am afraid I will be foiled by a return to the endless rally again on Monday so I will remain quiet for the moment!

Monday;
So now I can speak a little about the possibilities for the pattern.

If this is wave ‘ii’ completing at a lower high this evening,
Then the next logical step is a decline into wave ‘iii’ of (i) next week.

Watch for the market to hold a lower high on Monday at the very least.
We may even see an attempt to begin wave ‘iii’ by breaking below 32700 again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I have shown a possible alternate count for wave (v) this evening in red.
This count will allow for a larger five wave rally to complete in wave (v) blue.
If the price breaks below the wave (iv) low again,
Then we can rule out this alternate count and concentrate on the bearish option.

The decline today has traced out three waves down so far
A drop below 1976 again will favor the idea that wave ‘1’ is finally topping here and I can then look lower for wave [a] of ‘2’.

Monday;
Watch for a break of 1976 again to rule out the alternate count.
We should see a five wave decline to break 1976 in wave (i) of [a] of ‘2’.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Three waves up today has brought the end of wave (iv) pretty close now.
Of course wave (iv) can take any number of complex patterns over the coming days.
But if the patterns holds as a simple zigzag three wave rally,
The we are almost there for this correction and wave (v) should begin by the close on Monday.

There is a lesser favored alternate count that shows wave [i] complete at todays lows and this rally is now wave [ii] in that scenario.
We should know by Monday evening if there is a new low coming for wave (v) of [i], but that remains my favored count right now.

Monday;
Watch for wave (iv) to hold below the wave (i) low at 76.60.
WAve (v) should break 64.00 again to complete this pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is showing the same possible wedge pattern off the highs in wave ‘i’ and a lower high wave ‘ii’ at this evening’s top.
Again,
I can not jump on the bandwagon for wave (i) yet until we get a solid five wave pattern lower as shown.
So I am going out on a limb again tonight even showing this pattern!
I will feel much better about this pattern if we get a drop below wave ‘i’ again on Monday.
So that is the main takeaway from the last few days action.
The topping pattern is still very much in play,
But the market refuses to give in to the reversal in wave (i).

Monday;
Watch for wave ‘ii’ to hold that lower high below wave [ii] green.
If that happens,
We can work on that towards the larger goal in wave (i) down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am repeating myself again tonight with the action in Silver.
Yes we got a new high this week in wave [v] of ‘1’.
But that high was short-lived again today.
The price fell quite sharply off that new high and the possibility arises again that wave [v] is complete and wave [i] down may be getting started now.
Of course a break of the previous wave [iv] lows again at 24.56 will give this pattern a boost.
So that is what I will wait for as usual.

Monday;
Watch for wave [v] to hold at todays highs. Wave [i] down will be confirmed with a break of 24.50 again.