Good evening folks, the Lord's Blessings to you all.
https://twitter.com/bullwavesreal
EURUSD.
EURUSD 1hr.
EURUSD 4hr.
EURUSD daily.
Well its been a bit choppy this week but I think that EURUSD is moving back into pattern finally today.
the price has created a lower high in wave '2' of 'c'.
and now we see a spike lower to begin wave '3' of 'c'.
The price must continue lower for the next few days to complete wave 'c' near that target level at 1.0750.
Tomorrow;
Watch for that wave 'b' high to hold at 1.0869.
Wave '3' of 'c' must extend lower towards that 1.0750 level very soon for this pattern to remain valid.
GBPUSD
GBPUSD 1hr.
GBPUSD 4hr.
GBPUSD daily.
The price has been fairly bound in the last few days
so I am thinking tonight that we have a possible triangle in play here.
I have not changed the overall wave count in wave (i),
the action has not revealed enough to do that yet I think.
But this triangle idea may be a trigger to a larger wave count change if it is correct.
A triangle only happens in the place of a fourth wave or a 'b' wave.
So if this is a 'b' wave triangle,
that makes the whole move off the high a corrective move,
and that changes a whole lot in the larger wave count.
Tomorrow;
An impulsive move below 1.2800 is still the main goal here to strengthen the impulsive pattern in wave (i).
USDJPY.
USDJPY 1hr.
USDJPY 4hr.
USDJPY daily.
Things have changed in USDJPY now.
The JPY is strengthening in an impulsive manner now,
and that new decline today gives us a possible five wave decline off the top into todays lows.
Also,
the price has broken down below the previous wave [i] high,
and that invalidates the previous idea for a wave [iv] correction here.
So the pattern now is up in the air a little.
There is a few different competing large degree patterns that are all viable.
five waves down could mean a much larger impulsive move is beginning in favor of the JPY.
And if that is correct,
then the recent top marks wave '5' of [C].
Or this could also could be a top in wave [3] leading to a correction in wave [4].
I will have to see how this goes over the next few days to be able to put this move into perspective.
I will give a deeper dive in this weeks video to show you the possibilities I am juggling here!
Tomorrow;
Lets see how the reaction to todays move goes.
I do think the decline will be retraced starting soon.
Right now I am looking at a possible three wave rally in wave [ii] green.
DOW JONES.
DOW 1hr.
DOW 4hr
DOW daily.
OK,
The DOW is almost there in wave (v) of [v].
The action into wave 'v' pink is choppy for sure
so that is a hint that we are running out of steam here in this final wave in the larger pattern.
The rally today has ruled out the alternate count I think.
It seems like the path of least resistance right now is a new high to complete wave (v) of [v].
The pattern in wave (v) still has a little to go here.
A break above 41400 is likely.
And once that happens I will turn my attention to a top out and reversal pattern.
Tomorrow;
Lets see if we can complete this run higher in wave 'v' of (v) before the end of the week.
GOLD
GOLD 1hr.
GOLD 4hr.
GOLD daily.
Gold has traced out three waves up in wave (b) after todays rally.
The top in wave 'c' has hit the upper trend channel line now,
and the price is now in the price territory of the previous wave 'b' at one lesser degree.
So,
the pattern is full and the target area has been hit.
The next move I am looking for is a turn lower into wave (c) of [iv].
Tomorrow;
Watch for wave (b) to show signs of topping out.
A drop back below 2400 again will signal wave 'i' of (c) is underway.
CRUDE OIL.
CRUDE OIL 1hr.
CRUDE OIL 4hr.
CRUDE OIL daily.
Well well well I think that rally today is telling us something.
I was expecting one more low in wave '5' of (1),
but todays action is signaling that wave (1) is already complete here.
And now we are looking at a retracement higher in wave (2) on the cards.
The rally today is enough to consider wave 'A' of (2) already underway and maybe even near to a top.
The previous fourth wave is at 78.40.
So its an easy stretch from here.
That level should act as resistance to this rally.
and from there I will look for a reversal into wave 'B'.
Tomorrow;
Watch for wave 'A' to hit a top near the previous wave '4' resistance.
S&P 500.
S&P 500 1hr
S&P 500 4hr
S&P 500 daily.
The fed hype hs pushed the market higher this evening but that may prove very short and sweet.
If this wave count is correct,
then we have just completed a second wave lower high in wave (ii) blue.
The price hit the 50% target level this evening and now we seem to have a small reversal off the top.
Nothing can be prooved yet.
But a move into wave (iii) down will bring this market lower quite quickly if we get started here.
Tomorrow;
The market will prove this wave count quickly if I am correct.
Watch for a move into wave 'i' of (iii) before Fridays close.
SILVER.
SILVER 1hr
SILVER 4hr.
SILVER daily.
The move higher in silver this week is in line with the wave count in wave 'i' of (i).
but I must admit that this rally is less powerful than I expected to be honest.
It is a reasonable start,
but a little underwhelming!
I am leaving the target for wave 'i' pink at 29.45.
A rally back to that level in a clear five waves will be the confirmation that I am looking for.
Tomorrow;
Watch for wave 'i' of (i) to continue into that initial target.
And wave [ii] must hold at 27.30.
BITCOIN
BITCOIN 1hr.
BITCOIN 4hr.
BITCOIN daily.
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FTSE 100.
FTSE 100 1hr.
FTSE 100 4hr.
FTSE 100 daily.
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DAX.
DAX 1hr
DAX 4hr
DAX daily.
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NASDAQ 100.
NASDAQ 1hr
NASDAQ 4hr.
NASDAQ daily.
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