British pound… complex wave 4

The British pound looks to be ready to break out to the upside in a c wave of an abc for a wave 2… targets come in at 15810 which happens to be the upper trend line…

Completed zig zag nat gas on the 5 min chart

Natural gas appears to have completed a zig zag for a wave 2 on the5 min chart,and w3 could be underway with a trgt of (253-254. )Current position short with orders to sell under 2.73. 

canadian dollar bottom appears to be close at hand..... in the final major c wave.

the canadian dollar is setting up as it appears we are in a the last stages of the c leg down of a big zig zag retrace. The chart below shows that we are currently in a 3rd wave of the 5th that can reach as low as 7540 before the bounce into a 4th of a 5th that should end up being some kind of triangle or complex corrective pattern.  extending back towards 78. the final objective would be somewhere around the 7253 area to complete an ABC where A will be equal in length to C. if we happen to get to the 7540 area I may take a long position here with a tight stop of 30 to 40 points as the risk reward is to my liking.

  

Natgas… ewave finished of the triangle

Natural gas…waves

Triangle appears to be complete and now a push under the uptrend line is what I'm expecting. Only a break above the c wave would invalidate the count and set up a larger triangle c wave. Let's see where we go. Currently short and targets are 253 and 240 .

Wave 4 triangle playing out in euro$

The euro is looking like a triangle is forming and the current decline is the b wave that could be over soon. 

Natural gas… closing in on the final push up before the fail!

Natural gas after finishing up the d wave of a possible triangle is working on the E wave that could end as soon as tomorrow with a throwover of the upper downtrend line. Trgt if this is what we are seeing play out will be around the 2.00 level. # short position taken here @ 282 per sept and orders in at 284…

British pound chart 1hr. W4 target hit

The pound has reached the w4 target between 15550-15560. Let's watch for this 5th wave lower

natural gas waves......

Natural gas has been chopping around in what appears to be a channel/wedge/triangle whatever you would like to call it. I am currently flat as i believe that a push down to lower levels could come to fruition. in the form of this triangle we should push to a low of 260 and then a bounce to finish the triangle and thrust lower to around 2.00 level. my second thought is that we push to a new low around the 240 area then bounce into D wave of an ending diagonal which leaves us with a last E wave thrust down to bottom out natural gas prices and push us back to 3.35-40 area quickly.

Natgas… 1,2 1,2

Currently sitting at the .786 fib number of a possible wave 2 of w3 flat. A break over 295 sets up the w3. Could reverse tomorrow! 

corn close to a bottom?

 Corn to bottom soon? I think its close.






Corn looks to be putting in a bottom in a wave 2 zig zag with a bottom close at hand . If the 356 level doesn't hold I will be watching the 338-341 1/2 to hold and reverse. A break of 398 1/2 will set up the w3 to the 5.00 level

japanese yen diagonal is no more...... here are my new targets

June Japanese Yen

The june japanese yen has invalidated my ending diagonal count and im expecting a breakdown
to the 7935-7950 area. Intraday i will be watching for a motive wave with a five wave structure moving higher.  Lets see if we can hold this yen.

Expanded flat in nat gas for wave 2?

Last week natural gas too another spill towards the low and as we have 5 waves up to around 3.15 we have 2 scenarios setting up. My first one and the one I'm going to follow as of now is an A B C expanded flat. With the c wave finishing on Friday last week. A gap open higher this evening and some sort of inside or doji candle would be a good start. Either way it's a low risk high reward trade.

Has the euro bottomed? I kinda think so......

June euro daily chart

  The euro looks to have put in a 1.2 1.2 so far and i will be watching for a green candle  and a subsequent break of the b wave to set up the wave 3 higher. we will see what happens here. as all the currencies are lining up

japanese yen formation complete?????

 Japanese yen has possibly completed the 5th wave with maybe a bit more down to go but for this formation to stay valid it must not move beyond 8019 on the June futures contract. (this could bottom this evening. )  I'm currently waiting for a conformation green candle day before jumping in here. Maybe some kind of spinning top doji

Silver carving out and B triangle ...... with a breakdown coming??????

Silver in a B wave triangle?

silver looks to be in a 4th wave down of a b triangle to end at 1582-83 then a small rally up in a 5th wave a-b-c pattern and back down to a thrust out of the triangle to end at 1270-1275.

orange juice.... 1 more leg down to touch new lows and then spring back?

Sept orange juice " contracting ending diagonal. "

Orange juice looks to be putting a text book contracting ending diagonal with wave 1, wave 2 wave 3 complete and working on the 4th wave with a 5th and final wave down to come that should go no lower than 10684 on the final push down. after complete we should see a immediate upward thrust back toward 12840 and possibly higher. an invalidation would only occur if prices break above the 12190 level and below the 10684 price. A break above 12190 would change the count to a wave 1 wave 2 with the 3rd wave to come.

Yen… the last push higher…

Daily Japanese yen 

The yen looks as if a final push higher to the 12260-70 area may just around the corner. Will be keeping an eye on this market as this final push should present a great opportunity on the short side.

Natural gas… bottom in place at 2.475?

Natural gas has been sliding as of late and a potential bottom looks to be in place as of this writing in a possible 3-3- part of an expanded flat for w4. (Position: long June 2.53 ) . I'm looking for a push back to the 3.35-3.40 area

Go pro stock… short term bottom?

Go pro stock looks like we may get a push back toward 55-56… to the prior 4th wave in some sort of a zig zag for the 4th wave…currently taking a long position here…as the risk reward is a little over 10-1. 

Natural gas…1,2 1,2 is no more…

After the gap down today natural gas is looking more and more like this is either a 4th wave triangle of the c leg or a possible contracting ending diagonal 5th wave . If it is in fact the latter then it would target around 2.47 to complete the c wave of C with the d wave and  the e wave to come testing the old lows of 191-2.00. To invalidate this count a break over 3.03 would be needed.