EDUCATION- GRAPHICAL DIAGONAL PATTERN IN DETAIL_ELLIOTT WAVEThis is the educational post regarding the types of diagonal patterns-
SUMMERY :
LEADING DIAGONAL
ENDING DIAGONAL
LEADING DIAGONAL
Always form in inner wave of wave (1), so one can expect wave(2,3,4 & 5) within main impulse wave to complete the pattern.
PATTERN:
1- Comprises of (5-3-5-3-5 (inner waves)) or (3-3-3-3-3) (inner waves)
2- wave (4) always overlaps wave (1), but can't go beyond origin of wave (1)
3- wave (3) > wave (1) & wave (5) could be >than wave(1)
4- wave (3) max projection 161.8% (fib ratio) and it can't be shortest wave among all waves
5- wave (5) can't truncate
6- wave (5) max projection 61.% of wave (1) and wave (3), but can't go beyond line joining wave (1) and wave (3)
7- LD can either be expanding(ED), converging (CD) or parallel wedge
To enter in this pattern one should wait for the complete formation of LD and enter after completion of wave (2) after completion of LD !
ENDING DIAGONAL
Always form in inner wave of wave 5 of any impulse. Whenever you are observing, something like ED, one should make sure wave (1), wave (2), wave (3) and wave (4) has been completed so far.
PATTERN
1- Inner structure (3-3-3-3-3) (5 sub waves in total)
2- wave (1), (2) &(3) is always a simple zig-zag
3- wave (2) & (4)could be anything within (a-b-c) pattern
4- Here also, wave (1) and wave (4) overlaps as of LD
5- Wave (3) can't go beyond 161.8% (fib level), as of LD
6- wave (5)can be > = 61.8% of wave (1) and (3) but can't go beyond line joining wave (1) and wave (3)
To enter in this pattern one should wait for the complete formation of ED and enter after completion of wave (5) after completion of ED !
