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

I found this video so interesting and stomach churning to be honest!

It is always amazing to see how far people will go to game the system.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is generally higher today but the action is again stuck within the range of that wave ‘2’ correction.
I am looking for a third wave rally to break above 1.1254.
but so far the action continues to look suspect.
You can see the price range is actually contracting,
and there is a triangle pattern developing.
I am going to give wave ‘3’ another chance tomorrow but if that rally does not happen,
then I will have to rethink this wave count for wave ‘v’ of (c).

Tomorrow;
Watch for wave ‘2’ to hold at 1.1068.
Wave ‘3’ of ‘v’ should hit that target level at 1.1254 at a minimum.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

cable is creeping along that upper trend line in wave ‘v’ again today.
the price action is slow and choppy overall.
and the rally in wave ‘v’ will not hold up if this continues.
with momentum now flatlined and now turning lower on the 4hr chart.

Tomorrow;
Wave ‘v’ is a still a bit messy to be honest,
the ending diagonal pattern is possible,
but we need a turn lower to confirm this idea.
Watch for wave ‘v’ of (c) to finally top out and reverse.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY made a new high above wave (i) today after a three wave rally.
The high today is still wave ‘b’ of (ii),
but the pattern has changed to an expanded flat correction.
Wave ‘c’ of (ii) has already turned lower and we should see a low in wave ‘c’ to break 143.00 if the pattern is correct.

Tomorrow;
Watch for wave (ii) to complete an expanded flat correction with a break of the wave ‘a’ low at 143.15 at the very minimum.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has spent another day just sitting at the highs.
The pattern here has not changed in my mind.
I can see a five wave pattern complete in wave (v) blue into these highs.
the market seems unwilling to run higher to hit that upper trend line yet.
And if this is the top of wave ‘v’ pink,
then we should expect a sharp drop off before the end of this week.

Tomorrow;
Watch for wave (v) blue to show signs of a top in place.
An impulsive decline from here in wave (i) should fall into the support at previous wave (iv) at 39980.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I Want to start on the 4hr chart for gold tonight.
the ending diagonal pattern in weave [v] green has been pushed to its limit over the last few days.
While the previous pattern is not invalid here,
I am introducing another possibility for wave [v] just incase I got that wrong.

The 4hr chart shows a contracting triangle for wave [iv] green which ended in June.
The rally out of that low is now tracing out five waves up into wave [v] green.
and the current high is labelled as wave (iii) of [v].

This pattern implies we will see a correction into wave (iv) blue over the coming week.
But overall,
the new pattern will allow for wave [v] to top out later in the year at a new all time high.
That wave [v] high will complete wave ‘3’ red.
And then I will look lower into wave ‘4’ red as before.

Tomorrow;
Wave ‘v’ pink has completed a five wave pattern internally.
and the price has now hit the upper channel of 2 trend channels.
This rally looks done here for wave (iii) blue.
And I am looking for a turn down into wave (iv) blue before the end of this week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil rebounded today and the price retraced the decline fully.
The overall pattern in wave ‘4’ blue is still up for debate,
but I see no reason to switch out of the triangle yet.
The rally off the recent low has come far enough and hit an area of resistance in the pattern.
So this area is a good point to look for at least a correction lower.
I am looking for wave [b] of ‘4’ to fall back into the 67.00 area. from here.

Tomorrow;
Watch for wave (a) of [b] to turn lower again.
A break below 69.00 will signal wave [b] has begun.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am tracking this weeks sideways move as wave ‘b’ of ‘iv’ of (v) now.
the price should drop into wave ‘c’ tomorrow to complete this correction.
And then a run higher into the end of this week is possible to complete wave ‘v’ of (v)n again.

Tomorrow;
Watch for wave ‘c’ of ‘iv’ to complete by tomorrow evening.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

A spike rally in silver today has postponed the correction in wave ‘ii’ for a few days.
The action over the last week completed a triangle wave ‘4’ at todays lows.
that explains the very choppy price action last week.

The rally today takes the wave ‘5’ label.
And now we have a larger five wave pattern complete in wave ‘i’ pink.

Tomorrow;
I fully expect the correction in wave ‘ii’ to begin this week.
So lets see if wave ‘a’ of ‘ii’ can turn lower tomorrow.