Good evening to one and all, the Lord’s Blessings to you tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The triangle idea for wave [b] green is still moving along within range again today.
The action today continues tracing out three waves down in wave (d).
with the internal wave ‘b’ also moving in a possible triangle pattern.

The high of the session came in just above 1.0900,
and now that small spike off the wave ‘b’ high should begin wave ‘c’ down.
the initial target for wave ‘c’ of (d) lies in the area of 1.0750 again.

Tomorrow;
Watch for wave ‘c’ of (d) to continue lower and complete the larger pattern as suggested.
A break above 1.0900 again will suggest wave ‘b’ is still in control.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

After that spike rally today,
I am now looking at a larger wave ‘i’ to begin this final leg up in wave (v) of [v].

There is a five wave pattern complete off that wave (iv) low at todays highs.
Wave ‘ii’ pink is set at todays lows.
and if the rebound continues tomorrow to break 1.2780 again,
that will suggest wave ‘iii’ of (v) is underway.

Tomorrow;
Watch for that wave (iv) low to hold at 1.2588.
Wave ‘iii’ of (v) is now clear to run higher to break above 1.2850.
A break of that level will confirm this wave count.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The pattern for wave ‘iv’ has changed again today but this does not effect the larger wave count for wave (v) of [iii].
The price fell into 143.55 today and filled a trend channel off the wave ‘iii’ high.
And again the price bounced off that low to suggest wave ‘v’ is underway.

Ideally,
the price should now continue higher tomorrow to break 145.07 at a minimum.
Then I can begin to look for a top in wave (v) of [iii] again.

Tomorrow;
Watch for that wave ‘iv’ low to hold at 143.55.
Wave ‘v’ of (v) should create a final high above 145.07 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Don’t shoot me if I begin to look for a possible top in the market after todays action!

The rally into the recent high did not make a new high for the overall pattern,
that is the biggest concern in terms of completing the previous wave ‘v’ of (c).
But,
A truncated fifth wave can of course cause this failure in wave ‘5’ of ‘v’.
And in that scenario,
I can at least consider the possibility of a reversal pattern building here.
So that is what I will do.

As always the market must prove itself by taking out support pretty quickly.
That initial support lies at the wave ‘4’ low at 33598.

Tomorrow;
Lets see if there is any follow through on this decline to take out support.
The decline so far is more impulsive than the previous attempt.
And that is an advantage this time.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold stepped lower today off that wave ‘ii’ at 1934 again.
The price has not confirmed the turn into wave ‘iii’ yet,
that will come with a break of 1892 again.

if this pattern is correct for wave (c) now,
then wave ‘iii’ of (c) should accelerate lower over the coming days to hit the minimum target at 1859 again.
So I would like to see a break of support at 1892 tomorrow to confirm this count.
And if that does not happen,
I must consider an alternate count for wave (c) again.

Tomorrow;
Watch for wave ‘ii’ to hold at 1934.
Wave ‘iii’ down to make more progress and break support pretty quickly.

At the moment the price has only traced out three waves down off wave ‘ii’,
this can still be viewed as corrective,
so more downside is required here.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

No new high for wave ‘c’ of (ii) either today so this correction lives to fight another day!

Even though the price did take a hit today,
the rebound is strong enough here to suggest wave ‘c’ is still in force.
I am expecting a break of 72.68 again to finish off this pattern in wave (ii).
It will not take much more upside to hit that target level and complete a clean correction,
so I think we can allow the pattern another few days to achieve that goal before turning the attention lower again.

Tomorrow;
Wave ‘c’ of (ii) should break above 72.68 to close out the pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Even though the pattern in wave (v) is labelled as a truncated wave similar to the Dow pattern,
I do think this wave count in the S&P is a little cleaner.

The failure in wave ‘v’ of (v) is only a matter of 4 points.
This does complicate the pattern and cast doubts on it,
but the idea here is not unrealistic at all.

It is a failed fifth wave by a mere 4 points,
at the end of a very long corrective rally over the previous 9 months.
This is not betond possibility at all,
in fact I think I even spoke about it last night!

Even so,
this reversal pattern must prove itself now.
And I will be looking for a more sustained decline to rule out the alternate pattern for wave (iv).
If the market actually does continue lower to break 4200 over the next week,
then we have a real bearish reversal in the making.

Tomorrow;
Watch for the market to hold below the high again.
I want to see a continued decline to break wave (iv) at 4327 to give this idea a chance to prove itself.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The decline in silver today is suggesting that wave (ii) is complete at this weeks high.
A break below 22.00 again will confirm wave (iii) is underway,
but this is a good start.
I am looking at the previous wave ‘b’ of (ii) at 22.27 as an initial target level for wave ‘i’.
And then a lower high should build in wave ‘ii’ early next week.

Tomorrow;
Wave (ii) must hold at 23.29.
Watch for wave ‘i’ to complete with a break of support.