In this lesson we will go over a form of motive wave that is not an impulse, a Diagonal Triangle! (referred to as either an or a )
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If you are following this series I would suggest writing down what is shown in notes to help your brain remember these patterns, rules, guidelines and more. theory is based on pattern recognition, and to recognize these patterns in real-time you must first remember them.
We will next be going over corrective patterns (Reactionary) !
Any questions are welcome in the comments below!
I just wanted to ask for clarification on the above diagram. I am new to trading and have much to learn, please forgive the ignorance or simplicity of question.
In the above #3 box..."A diagonal that is rising is bearish......A diagonal that is falling is bullish......."
It is bearish because of the sharp decline after the diagonal and bullish because of the upward thrust after the diagonal and not because of the diagonal itself...correct?
Thank you in advance for your patience.