wolvesagainsttheworld

wolvesagainsttheworld

This is my second alternative for the weekly chart of EUR/USD. The last advance in wave 5 could be a Ending Diagonal, since wave 1 of wave 5 looks corrective in the daily chart. Look for weakness in the area around 1.22-1.24.

wolvesagainsttheworld

I had to readjust my weekly count for the EUR/USD. This is my first alternative. Instead of an wave C down, wave B is still unfolding. Therefore the pattern since September 2017 looks like a Flat. B is now at the 100% Retracement of A. It looks like a possible Double Top but there is no further indication for a short move. Wave B could advance at the 1.24 level...

wolvesagainsttheworld

I´m bullish for Live Cattle. Although it seems that 120 marks a Double Top in the Futures, this can be only wave 1 of a further advance in wave C. The wave count would be invalid if wave 2 breaks to new lows. Otherwise a significant advance above 120 would support my bullish view. Next targets are 127 and then 134.55.

wolvesagainsttheworld Updated 

Support around $1260 in Gold did hold. But the rally to nearly $1300 seems a bit odd. I labeled it a ending diagonal within wave C of B. Watch closely the $1300 level for potential reversals.

wolvesagainsttheworld

The rally in the EUR/USD since Nov 7th seems to be corrective. First targets are around 1.1989-1.2024. Look here for reversals. The 78.6 retracement is also around 1.1975. A break to new highs (above Sep 8 high) would indicate a new impulsive wave with higher targets. This would invalidate my short scenario.