4th wave triangles in the indices

nasdaq as well as all the other indexes are setting up what appears to be a 4th wave triangle. if this is the case we have another leg lower

soybeans continue their slide..

daily nov bean chart looks as if we are currently in a w3 lower and this target comes in at 803 on the downside.

euro dollar 2017 2016 interest rate futures reversal to higher rates soon?

The EDZ16 and EDz17  have presented the sell signal this morning on the dow meltdown. Currently short this market as of today on the throwover of the ending diagonal on the edz2016 at 9892 risking $ 250 per contract to possibly take a shot at 2500 per contract. Great risk reward trade here in my opinion. 

Crude oil… we bounced alright but not much

Crude oil did bounce but not enough as the next obj on crude comes in at 3778 per dec contract. 

sugar targets for wave c of the ending diagonal .........

sugar looks to be finishing up the c wave of the ending diagonal that most likely will end around the 1000-1020 price range per oct contract. the d wave higher should enter into the price range of the A wave ending @ 1152 then the final push lower to just under 9 cents. here we should see the final bottom in place and a rally back to 14 + should take place . This is my current count as of now and will be watching for this to play out.

will oil hit the target and bounce? looks like it to me

dec crude oil is creeping up on the 4244 trgt and a great risk reward trade. (orders to buy at 4245 and 4240 in and waiting. lets see if we hit and reverse. 

Natural gas… no doji today

Natural gas rallied today as I was hoping for a bearish candle would form. Very possible that tomorrow could set up the bearish candle as we have thrown over the downtrend line of  the wedge pattern which is common in this formation…let's see how we play out! 

Sugar…descending triangle

Has sugar finished the c leg of a contracting ending diagonal or do we see 10.20-10.00 before the d leg up? I was hoping to get to the 10 mark as that would be a perfect ABC for the C leg to finish. A relief bounce  then the final push lower to around 8.50-8.75. ( this happens to be the long term trendline!)  Keep watching here as this should be a great long term trade arising.

Natural gas… topping at 2.878?

Natural gas upside target this morning comes in at 2.878 and I will be looking for some kind of doji bearish candle to be put in today. Might look something like this. As we have the gap higher in place. 

Dec crude

dec crude oil........... are we close to the bottom? lets take a look.

it looks as if we will take a run to the 4244 level as this final wave lower plays out here we have a nice risk to reward play with a potential move back to 65-70 with a relatively low risk. patience is the key here. 

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