comment:pref. counting is as per the above draft. Any violation of this counting will establish new wave counting.

comment: Looks like it hit the double top area....this fenomena is sometimes called "the bullish trap".carefull for any bearish divergence set up....the pattern is almost completed.

comment: its been a month i never updated this blog. Anyway, for this april...let me start with my new counting of this pound/yen performance. Previous high is 145.13 @ 24th march, whereby this is the top point of the wave. Its then has fallen touch 135.85, approximately 1000pips movements. Well, currently as we can see over the graph, price has cut 61.8% (retrace fibo), next target would be 100% retracement to make double top point!!otherwise, price might falls completing the subwave in a wave.