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

Money on the side-lines, or under the base line rather!

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well,
If I was forced to put a label on todays action,
I would say this is wave ‘1’ and ‘2’ to begin wave ‘i’ pink.
This cant be confirmed yet,
but it is a good start for sure.

Wave ‘i’ pink should retrace most of the rally in wave ‘c’.
And that gives a target at 1.0650 for wave ‘i’ to complete.

Tomorrow;
WAtch for that wave (ii) high to hold at 1.0811.
Wave ‘i’ down must continue towards the target at 1.0650 in five waves.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

In a similar vein to EURUSD,
the price is forming a lower high today at wave ‘ii’ pink.

I am looking for a five wave decline to break the wave (b) low at 1.2470.
This is not a major ask,
given that wave wave (b) is only 80pips below us now.
But a break of the triangle low at wave (b) will lead the way for a beginning to the larger wave [ii] decline.
The lower wave (i) goes below 1.2470,
the better this wave count becomes.

Tomorrow;
Watch for a break of the wave (b) low at 1.2470.
The wave [ii] high must hold at 1.2633.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is moving higher today and there is the possibility of a bullish higher low building from here.
WAve (i) of [v] must break above 154.50 at a minimum,
but I would like to see a rally back into the wave (b) high at 158.01 to be honest.
that may be a little too much to ask for after that sharp decline last week.
But,
the higher wave (i) goes,
the safer I will feel about the wave [v] count.

Tomorrow;
Watch for wave (i) to trace out five waves up and break above 154.50 at am minimum.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is crawling along today without much progress to be honest.
The rally in wave (c) of [ii] seems to be out of gas at the moment.
I was looking at the 62% retracement level at 38930 as the likely target for wave (c) of [ii].
And the price is very close to that level now.
So this is an ideal time for wave [ii] to close out and reverse into wave [iii].
The sooner,
the better in my book.

Tomorrow;
Five waves up in wave [ii] is very close to done now.
If the market hits the 62% Fib retracement and then reverses off that level,
that will be a good signal that wave [ii] is complete.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The price action continues to favor a correction higher in wave ‘2’ today.
Wave ‘2’ has traced out an expanded flat pattern now,
and wave ‘3’ down should begin soon.
A break below 2280 again will signal wave ‘3’ of ‘c’ is underway.
And then we can look for a final low in wave (iv) by the end of this week after a five wave decline in wave ‘c’ completes.

Tomorrow;
Watch for that wave ‘b’ high to hold at 2352.
wave ‘3’ of ‘c’ must turn lower again and break 2331.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude hit a double bottom with the wave ‘iii’ low today,
and then we saw a spike rally off the lows to end the day flat.
I am suggesting that the long awaited wave ‘iv’ is now underway here.
And we should see an expanded flat correction in wave ‘iv’ complete near 79.70.

The wave ‘i’ low at 80.70 must not break as wave ‘iv’ completes.
So watch for that correction to hold below wave ‘i’.

Tomorrow;
Watch for wave ‘iv’ to continue in a corrective form below 80.70.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has now rallied up to the upper trend channel line of the wave (ii) correction.
The overall pattern still fits well I think.
And as we approach the 78.6% retracement of wave (i),
this rally should begin to wane I think.

I can also label the rally in wave ‘c’ of (ii) as a five wave pattern now.
this adds to the idea of a completed correction at the current highs.
So any weakness from here will be viewed as a signal that wave ‘c’ is complete.

Tomorrow;
Watch for this rally to stop and reverse to signal wave (ii) is done.
wave ‘i’ of (iii) should fall beck below the wave ‘b’ low at 5010 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver turned higher today into wave ‘c’ of (b) and the rally is already close to hitting that initial target level at 27.73.
I am tracking a three wave pattern off the wave (a) low.
The 50% retracement level of wave (a) lies at 27.90.
That gives a tight target range for wave (B) to aim for.
Once wave ‘c’ of (b) hits that level I will look for a reversal into wave (c) to begin.

tomorrow;
Watch for wave (b) to top out near that 50% retracement level at 27.90.