This paper describes an approach to the problem of automated music transcription. The Continuous Wavelet-like Transform is used as a basic time-frequency analysis of a musical signal due to its flexibility in time-frequency resolutions. The signal is then sequentially modeled by a number of tone harmonic structures; on each iteration a dominant harmonic structure is considered to be a pitch candidate. The transcription performance is measured on test data generated by MIDI wavetable synthesis both from MIDI files and played on a keyboard. Three cases: monophonic, polyphonic and complicated polyphonic are examined.