Good evening to one and all.

The Lord’s Blessings to you all.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am looking at wave (iv) and (v) a little different tonight.
I was expecting a five wave decline into wave ‘c’ of (iv),
but so far that decline has evaded us.
Tonight I am counting the recent rise as an ending diagonal run higher.
And if this is correct we will see wave ‘v’ of (v) pip to a new high above 1.0595 again to complete the pattern in wave (v) of [i].
then later this week I will look lower again into wave [ii].

Tomorrow;
Watch for wave ‘v’ of (v) to complete above 1.0595.
Once wave (v) does complete then wave (a) of [ii] is expected to fall into about 1.0220 again in at least three waves.

GBPUSD

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GBPUSD daily.

There is no confirmation yet of a turn down in wave [a] of ‘B’ today.
There is room for another pop to complete wave ‘v’ of (v) of [c],
but I do think there is enough of a pattern in place at the recent top to suggest wave (v) is complete at 1.2321.
And now I will continue to expect a turn lower into wave [a] of ‘B’ this week because of that.
Even if the price does manage a new high in wave (v),
I don’t think it will last long.
So I will remain patient here looking for wave (a) of [a] this week.

Tomorrow;
Watch for wave (a) of [a] to be confirmed with a break below 1.2106.
A break of that low will signal wave (v) is complete and wave (a) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is moving higher today in line with the short term count,
the action is not vigorous as you might expect in wave ‘iii’ of (C),
but there is enough progress made today to suggest wave (c) is now underway.

If this pattern is correct,
then we should see a continued five wave rally in wave (c) of [a] this week.
And I am looking at the previous wave (iv) high at 139.909 as the initial target for this pattern.

Tomorrow;
If the price breaks above the wave ‘b’ high at 137.86
and holds above that level tomorrow,
that will add weight to this short term pattern.
The low at wave (b) must hold at 135.63.

DOW JONES.

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DOW daily.

I have settled on a five wave pattern lower for wave ‘i’ at todays early lows now.
And if wave ‘i’ is indeed complete at this mornings lows,
then wave ‘ii’ should be underway with the rally today.
I have labelled the high of the session as wave ‘a’ of ‘ii’.
Wave ‘b’ and ‘c’ should complete a three wave correction higher over the coming days.

The initial target level for wave ‘ii’ lies at the previous wave ‘4’ high of 33927,
and the 50% retracement level of wave ‘i’ lies at 34030,
so that gives us a nice initial target range for wave ‘ii’ to complete.
If the price continues higher this week,
then I will have to revisit the larger bearish pattern of course.
At the moment,
I think we are on course for a bearish lower high to complete this week.
And I can then look towards wave ‘iii’ of (i) down later this week.

Tomorrow;
Lets track this correction in wave ‘ii’ over the coming few sessions.
Watch for wave ‘b’ of ‘ii’ to hold above the wave ‘i’ low tomorrow evening.

GOLD

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GOLD daily.

The main count in gold is pointing lower in wave ‘c’ for the week ahead.
The lower high that was created on Friday is still holding,
and the price has fallen back into the 1780 level tonight.
I am looking for a five wave pattern lower in wave ‘3’ of ‘c’ over the coming few sessions.
and wave ‘3’ of ‘c’ should find a low near 1730 if this count holds up.

This wave count requires a sharp acceleration lwoer tomorrow in order to stick with this idea.
So a break below the wave ‘1’ low at 1765 must happen tomorrow I think.

If the price fails to achieve what I set for the pattern,
then I will have to consider the alternate count shown in red tonight.
That idea suggests wave (ii) is already complete at 1724,
and wave (iii) up is now in play.
A three wave correction is underway in wave ‘ii’ of (iii).
and this will be followed by a sharp rally into wave ‘iii’ of (iii) later this week.
We should konw soon if this alternate count has any merit at all.

Tomorrow;
Watch for wave ‘3’ of ‘c’ to fall back below 1765 to begin with.
We should see a break below 1739 at a minimum in wave ‘3’.

CRUDE OIL.

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CRUDE OIL daily.

Crude has traced out a three wave pattern higher off Fridays lows at 70.30.
There is a reasonable chance that wave (ii) of [iii] is now underway.
Three waves up in wave ‘a’ does suggest wave (ii) is a flat correction with an overall 3,3,5 internal pattern.
We will have to wait and see how that pans out.

I am looking at the 50% retracement level of wave (i) as a target for wave (ii),
that gives us an initial target at 76.80 over the coming few sessions.

I went over the major alternaets in the video above,
so take a look at that if you want the wide angle view on the alternate count.

Tomorrow;
As for the short term patterns,
we should see a three wave correction higher dominate the trade this week.
Wave ‘b’ should hold above 70.30 tomorrow.
And then wave ‘c’ of (ii) is expected to begin midweek and head up to that initial target level at 76.80.

S&P 500.

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S&P 500 4hr

S&P 500 daily.

I am tracking a three wave pattern higher today in the S&P.
I am not convinced yet if wave ‘1’ is compelte and this is wave ‘2’ now inn play,
or if something different is going on here,
that remains to be seen.

What is clear enough to me is that this is a correction pattern in operation now
And we should see this correction complete tomorrow and close out the small channel.
When wave ‘2’ is complete,
I will be looking for a sharp decline again into wave ‘3’ of ‘i’ as shown.
And wave ‘3’ of ‘i’ should fall back into the 3700 area again.
I want to see wave ‘i’ pink make a good attempt to retrace the whole rally in wave ‘c’.
And if this count is correct,
wave ‘i’ down must make serious progress lower this week.

Tomorrow;
Watch for wave ‘2’ of ‘i’ to top out near 4000 again.
A break of 3910 again will signal wave ‘3’ of ‘i’ is underway again.

SILVER.

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SILVER daily.

The rally we have seen in silver over the last few months is very extended now.
Infact we are at a point where I think we have an extendion in four derrees of trend.
Wave [c] of ‘4’ has travelled farther than I could have imagined.
But nevertheless,
I do believe this is an overextended rally with the potential to snap back in a a major way as wave ‘5’ gets underway.

I have been proven wrong so far on the beginning of wave ‘5’.
But wave [i] of ‘5’ is coming our way,
and this week is a good candidate to kick that off given the position of the underlying patterns here.

Tomorrow;
A possible three wave decline today suggests wave ‘5’ of ‘v’ has one more pop to complete the sequence of waves up to wave ‘4’ red.
Once 22.00 breaks again,
that will signal the end of this rally and the beginning of a long decline into wave ‘5’ of (C).