TradingView
Hari-Ram-Kumar
Apr 14, 2022 9:49 PM

Running triangle Leading and Ending Diagonals Education

EURO / INDIAN RUPEEICE

Description


Comparison between Running triangle-Leading and Ending Diagonals
Chart 1 depicts a theoretical structure of Running triangle and an ending diagonal in a down trend.

As mentioned the comparison is in a downtrend. Accordingly downward move is termed as directional move and move to the upside is termed as non-directional.
A running triangle has non-directional momentum ie faster moves to the upside (wave A, C and E) than the downward moves (Waves B and D). These non-directional moves donot retrace the previous move completely.
On the contrary, Ending diagonal has directional momentum ie faster moves to the downside (waves 1, 3 and 5) in the direction of trend and these downward moves completely retrace the previous non-directional corrective moves (wave 2 and 4).

Chart 2 depicts a theoretical structure of Running triangle and an ending diagonal in an uptrend.

Differences in a running triangle and leading diagonal is opposite to that mentioned for downtrend.
As mentioned the comparison is in an uptrend. Accordingly upward move is termed as directional move and move to the downside is termed as non-directional.
A running triangle has non-directional momentum ie faster moves to the downside (wave A, C and E) than the upward moves (Waves B and D). These non-directional moves donot retrace the previous move completely.
On the contrary, Ending diagonal has directional momentum ie faster moves to the upside (waves 1, 3 and 5) in the direction of trend and these upward moves completely retrace the previous non-directional corrective moves (wave 2 and 4).
Comments
johntradingwick
This publication has been chosen for the Editor's Picks and will be featured on in.tradingview.com/ideas/editors-picks/.

Thank you for your valuable contribution to the Tradingview community and keep up the good work!
Sai_Kumar
Informative post, thanks. but needs to be simplified or maybe you should pick some charts for examples.
More