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
(2) will only retrace .382 - .5. :-)
Reply
*Leading* diagonal CAN'T have zigzags as waves 1,3,5
Reply
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.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out