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

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I think todays drop off is enough to consider wave ‘ii’ complete at 1.0931.
the pattern in wave ‘ii’ traced out a running flat correction where wave ‘c’ did not make a new high above wave ‘a’.
Wave ‘iii’ down should trace out five waves down now with a target in the 1.0700 area again.
Todays decline is labelled wave ‘1’ of ‘iii’,
so this wave should continue lower for the next few days.

Tomorrow;
Watch for wave ‘iii’ down to continue lower to that target at 1.0700.
The wave ‘ii’ high at 1.0931 must hold.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am considering a few alternate counts for cable tonight after the triangle wave (iv) idea was invalidated again!
I want to see a little more action over the coming few sessions to see which idea best suits the action.
So I will hold back on them just for now.

For the moment,
I will stick with the main count for wave [i] down,
only now wave (iv) is labelled as a very complex expanded flat pattern.
Wave (v) down is coming,
and this will complete the larger wave [ii] green.

Tomorrow;
The wave (iv) high must hold at 1.2800.
Wave (v) should trace out a five wave pattern lower to break below 1.2600 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The wave ‘5’ rally is still in play here today even though the price has not accelerated higher just yet.
The price has created a higher low above wave ‘4’ so far,
and this action suggests that wave ‘5’ is building for another leg higher over the coming days.

Tomorrow;
Watch for wave ‘4’ to hold again at 144.93.
Wave ‘5’ must continue higher towards that target area above 148.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Todays trade has wiped out the gains made yesterday in a very sharp manner also.
The price has traced out a running flat correction at Mondays high,
so I am suggesting that wave ‘iv’ is now complete and wave ‘v’ down is underway.
The minimum target for wave ‘v’ is to break below the wave ‘iii’ low at 34260 again,
the low of the session today has achieved that.
But I am looking for more downside to complete this first step in the reversal into a wave ‘3’ decline.
I am looking to that lower support level at 33600 at wave ‘iv’.
If we do see a break of that level,
that will definitely lift the probability of this bearish wave count quite substantially.
So it is important how much lower this fifth wave goes.

Tomorrow;
Watch for wave ‘v’ of (i) to continue lower and hit that lower support level at 33600 over the coming days.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is working its way higher in general this week,
but even this weak and choppy correction higher got a punch in the side today!
The price dropped with a nice sharp spike lower early in the session.
And now the wave (ii) count is in doubt again.

Todays action only throws more mud on the situation here,
so I am going to wait until things clear up a little better before switching to another count.
For the moment,
I will stick with the main count.

Tomorrow;
WAtch for wave ‘a’ of (ii) to continue a corrective pattern higher towards that 50% retracement level this week.
A break down below 1884 again will force me to rethink this count.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Well we have a three wave move into this weeks high,
and now a pretty sharp move lower off a lower high today.
I must admit,
there is some evidence building in favor of that alternate count now.
I have shown that count in red this evening as a possible wave (i) and (ii) pattern lower off the highs.
And wave if this alternate is correct here,
we will see a break below 78.64 again in wave (iii) down to confirm the alternate count.

As for the main count,
I have not abandoned it just yet.
A rally back above 82.00 again will signal this count is correct and then we can expect the price to continue higher as shown.
But we do need to see this count take over tomorrow.

Tomorrow;
Watch for wave ‘iii’ to pull the price higher and to rule out the alternate count.
The wave (iv) low at 78.64 must hold for this count to remain valid.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P made a turn lower today but the retracement of wave ‘4’ is not quite as deep as in the Dow.
I think we can still run with the idea that the larger wave (i) down is the correct count here.
The rise into todays high is still corrective in nature which fits the wave ‘4’ count,
and the decline today is impulsive looking,
so that tends to fit a wave ‘5’ count.
I am looking for wave ‘5’ of ‘iii’ to fall below 4327 at the previous wave (iv) low.
If that happens,
then this bearish reversal idea will get a nice probability boost also.

Tomorrow;
Watch for wave ‘5’ of ‘iii’ to break 4327 and break support at wave (iv).
I can then look for a bounce in wave ‘iv’ for the rest of the week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has held up today with the action pretty flat all day.
I have labelled the full wave (ii) correction tonight to shown what is expected from here.
Wave ‘c’ of (ii) is getting up towards the target at 23.75 now.
but the internal pattern of wave ‘c’ requires another spike in wave ‘5’ to complete the pattern.
That should be done by tomorrow evening and then we can begin to loo k for a turn down into wave (iii).

Tomorrow;
WAtch for wave ‘c’ to complete five waves up at 23.75 which is the 50% retracement level of wave (i).