Thursday, December 3, 2009

USD/JPY Leading Diagonal


A leading diagonal may almost be complete in the USD/JPY pair. Although I have my reservations as to this count being correct, due to irregularities with several LD guidelines (N.B. EW Rules cannot be broken, however EW Guidelines are merely higher probability commonalities - download a complete list of rules and guidelines here for more info) it is always beneficial to have several possibilities available and never be 'married' to a single count. For the above count to be correct, price must not exceed 88.187 or wave 5 will be greater than wave 3 which breaks one of the aforementioned rules.

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