Basic - there is possible decline in the wave (ii) ALT - substantial decline in the wave ((v)) of 1 Of cause it is possible to see a little bit more of the upside before the decline, but this looks like a setup for short under the both counts.
Basic - it is wave c of (c) of ((v)) now. it is wave iii ALT - it is the wave ((ii)) finished or very close to the end. Next is a substantial decline. Market will resolve this soon, because under the both scenarios there is a rapid move expected.
BS - the current decline was a big leading diagonal => some deep corrective rise ahead. No one more high ALT - There is only (b) FLAT of ((v)) => rise to the new high ALT2 - Sequence of ((i)) - ((ii)) - (i) => some shallow cor. rise in (ii). The Monday opening can tell the story. It can be a rapid rise or more substantially to the downside.
Basic sc - there is a wave (ii) in the last stage. ALT - there is a wave (v) in play now, the new top is expected before the substantial decline. It is an open questions whether the wave (ii) is finished, I can not exclude that on the micro level there are still subdivisions to be made. The last rise on 5 min looks corrective to me, but RSX1H is still up, so it...
I see that as a final stage of rise in WTI now. For any set up , first there must be 5 waves down + 3 waves up to form a confirmation. Substantial divergence with RSX1h is in place, that's why I think of WTI being in the wave 5 but not in the extending wave 3. Still higher levels from here are possible. This rise looks like short squeeze for me which consider this...
There is possible decline under BS+AS. BS - down in (c) of ((ii)), ALT - down in (iii) of ((c)) of 4. The shape of current decline is not clear at 15min time frame. Nevertheless, I see possibility for downside from the current levels.
It seems to be more downside potential from the current levels. BS - down in (c) of ((ii)). ALT - down in 3 of (C) of ((2)). But First there should be 5 down + 3 up and RSX down to have first confirmation that the current rise is over.
The basic scenario is that EURUSD has finished wave 3 and 4, it is now is in the wave 5. There is possible impulse up in ((i)) of 5. There are three waves downward after. It looks like5 up-3 down confirmation of the trend change. BUT as usual there is a catch. The possible wave ((ii)) can be still in progress. We will look at this structure closer at 15 min...
Basic scenario - the not very good looking triangle in wave 4 has been finished (very small waves ((d)) and ((e)). Now it is the wave ((i)) of 5 to the upside. The final stages. Alt - It is the wave (c) of ((b)) only. It can be close to the finish. The decline will clarify. In case of the corrective shape - Basic sc. in play. In case of the impulsive shape of the...
Possible long under BS+AS. Basic Scenario - up in the wave ((3)). Wave (1) can be finished or close to it. Corrective decline in (2) will confirm BS. AS - rise only in wave 2 of ((5)) down. But due to ((a)) of 2 is impulse, there is possible ((b)) down and one more impulse up in ((c)) of 2 of ((5)).
It is possible end of the wave ((d)) of 4. The Fibbo is close to the (a)=(c). Need to see RSX down + 5down-3up confirmation. Alt. - it is much bigger decline ahead. Meanwhile, Basic and Alt. look the same way down locally.
Basic scenario - there is the wave 3 of (C) of ((2)) in underway. The possible shape of the wave (C) is a diagonal. So the wave ((2)) is going to be a ZigZag. RSX is heavily to the downside, that supports the idea with wave 3 down. But still there are only three waves down, so the alternative with one more high is still possible. Alternative scenario also...
Under both BS and AS there is possible upside more. The possible shape is the ending diagonal.
It is possible that there is first impulse and corrective decline to it in place. That's why under the basic scenario the current rise is considered to be (i). In case there will be clear three waved decline that would make (ii) wave. This situation will present a set up for long. It will be great to see RSX down , and confirmation from RSX with turn up.
Short-term potential for the decline in GOLD. That could be the final push down into the end of the triangle in the wave 4.
There is possible trianlgle in the SP500. That can be a sign of an exhaustion in the current rise. There is still small potential to the upside after this triangle. In case this triangle takes place that will give more odds to the close end of the rise. Nevertheless the possible decline is supposed to be only a correction, that could be another second wave.
According to my basic scenario there could be corrective decline ahead. Being only the ii of (iii) of ((iii)) that decline can be a good set up for long. RSX is down. Alternative scenario - all rise is finished and EURUSD is on the way to the parity.
Bullish scenario.Possible triangle in the wave 4 of (C) of ((2))