Gold

Gold is playing out like expected. I'm looking for one more low before we go back up a bit.

Gold 2 hours update

There's a possibility that wave 4 is unfolding as a triangle.

Gold 2 hours

Looks like gold is going lower 1 more time for a wave 5. There was a breakout of the trendline but price is now back under that TL.

USD/JPY 1 Hour

Here's a close up of the wave D of the bigger triangle. Looks like price is in a small wave 4 ( of C ) triangle. There is a possibility that wave D is complete allready, instead of counting it as an ABC, I would count it as a WXY, where the latest high (indicated on the chart below as wave 3) would be the end of wave D. In other words, this pair is topping with a good possibility of 1 more high. After this "top" price should delcine one more time (wave E) to finish the big triangle.

Gold 4 hours

Late last week we broke through the rising trendline. I'm looking for a retest of the trendline early this week, followed by a decline in price for the second half of the week. This could be the start of a big decline, it could go to test the 864 low pretty fast.

USD/JPY

If the triangle scenario holds, this is wave D in the making. Wave Y is 2 times the size of wave W. There's also a nice fib extension after the wave A top, where wave c = 1.618 * wave a (but wave c could possibly not be finished yet).

Gold 4 hours

Here's a possibility for gold. Confidence is not very high because of the small wave X.

EDIT :

It's possible that wave c of Y is not yet finished and one more high is required like illustrated in the chart below.

Usd/Jpy

The triangle scenario is still possible as long as price remains above 93.54. Wave C of B has 2 waves down who are about the same size, this 100% fibonacci extension is acting as support and is pretty close to the 93.54 support.

Usd/Jpy

I'm starting to like the idea of a wave B triangle, followed by a short wave C ( 61.8% of A ? ). A flat is still possible aswell.

USD/JPY 4 Hour chart

Here's what I'm looking for on USD/JPY. The reason I don't see a top yet is because of the 3 wave action of wave b of B. I was looking for a ending diagonal but since there are only 3 waves, I was forced to review the count.