June 12 - Alternate Bearish Count

Hi everyone,

If there's one thing that I learn from trading FX, it's this: We need to keep an open mind. When I use Delta, I keep looking for an alternate Delta count. Of course the alternate count still has to follow the rules and guidelines of Delta system. Fortunately, compared to other trading system, I think Delta is probably one of the systems that does not offer too many alternate counts. Sometimes in certain cases, there's even no alternative Delta count.

The alternative count is important, especially if we are trading in the Inversion Time Period (ITP). The rather difficult time to trade Delta is during the ITP. Those who follow Delta knows the ITP. Inversion can only happen at either side of ITD 1 / MTD 1/ LTD 1. We are now in that time period for both ITD and MTD. So until the ITP period passes, we still probably can not know for sure whether there's any inversion.

So here, I thought I will post an alternate bearish count. In this count, MTD 1 / LTD 15 has arrived at ITD 11. ITD 11 then inverts at 1.58, and we travelled up to ITD 1 due around June 11. ITD 1 could have arrived on time at 1.662 on June 11. Using this count per the attached chart, we are currently travelling down to ITD 2 due around June 22. This alternate count will be the correct count if ITD (11) at 1.58 is broken in the next several trading days. If ITD (11) is broken, the position of MTD 1 / LTD 15 will then be confirmed at ITD 11, and my primary count I posted at June 10 will not be correct.

However, I am still of the opinion that we will break ITD 11 high, and that we are currently travelling up to ITD 2 due around June 22, with a target price level of 1.68 - 1.7. The primary count is posted in my June 10 post. There's no ITD 11 inversion in this primary count.