Comparison of ITD 8 highs to previous cycles indicate that it's due around this vicinity in terms of time. In the meantime, MTD and LTD are still travelling down at least until mid August, and therefore we shall get another low soon once ITD 8 high is IN.
GBP JPY Delta ITD chart shows us that ITD 9 low (and MTD 7 low) should be due on average on the yellow vertical line in the month of August. Target price is probably around 50% fib to 61.8% fib from the low 118 to the high 162.6.
However, looking at bigger picture GBP JPY Delta MTD chart, there's a good possibility that SLTD 4 low (Super Long Term Delta) has already arrived at 118. This bigger picture count is subject to change as I will reassess again next August. If it's as I projected, then SLTD in fact is travelling up and therefore we will not get any price lower than 118. When SLTD is travelling up, we will get a series of higher high and higher low LTD.
With this projection, there's a chance that MTD 7 low in mid August would also be LTD 10 low as I indicated in the MTD chart. If that is so,we will then move higher to LTD 11 (and this would also be SLTD 5 high) due on around November.
2 comments:
GBPJPY is a cross currency - It's not possible to extrapolate a cross using delta - work out the delta points on GBPUSD and then USDJPY - take the prices and multipy the 2 together - then you have your GBPJPY price ! it's simple.
You are over analysing by trying to put a count on everything - (a bit like a child with a crayon)
If Elliot Wave can be used in cross currencies, why not Delta? Is the Delta book or Delta training CD mention it can not be used in cross currencies?
Thanks for your comment but I disagree with you.
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