user100000
Long

Leading diagonal; Wave (1)

BITSTAMP:BTCUSD   Bitcoin / Dollar
195 3 1
Wave 1 seems to have a three wave structure so it makes sense that a diagonal may be developing for wave (1). Each successive wave will be larger than the previous wave if this is an expanding diagonal. So Wave 3 will be greater than 1 and wave 5 will be larger than 3

Of course, the fibs will have to be adjusted to match the actual market price levels
oaksacorn
a year ago
(2) will only retrace .382 - .5. :-)
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ShortThePlanet
a year ago
*Leading* diagonal CAN'T have zigzags as waves 1,3,5
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oaksacorn
a year ago
The leading diagonal triangle has rules that govern its shape.

The subwave action usually follows two converging trendlines.
Subwave four often overlaps subwave 1.
The subwave count is 5-3-5-3-5.
The leading diagonal triangle usually occurs as part of wave one of impulses or wave A of zigzags.
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