Published 22 days ago. It looks like it still might be interesting.
Hi bigrediska, I had previously considered the current price action to be a leading diagonal as well. However, what caused me to back off was the fact that though wave 5 seems longer than wave 3, and wave 3 is obviously longer than wave 1 the formation itself takes a contracting shape (as opposed to an expanding leading diagonal). Therefore, we're probably within an extended third wave of an impulse, or maybe this isn't an impulse at all, but a double zigzag instead. We'll have to wait and see.