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The original wave count has been changed. Most noticeably is the 5 wave downtrend count. This has been changed because of the difference in chart patterns between the Yen spot price and Yen ETF price. What appears as wave 2 in my previous post is actually an impossible count when you look at a chart of the spot price. The Yen spiked to a high which is not visible in the previous post because OTC forex continues to trade long after the NYSE closes. Keep in mind that this Yen chart only includes the price action which occurs during regular NYSE trading hours. As for the corrective wave 2 labeling, it looks as though wave 2 has become more complex by adding in an additional abc structure of one higher degree. Naturally there is higher risk associated with trading this pattern because the original wave count has been compromised.
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