A leading diagonal is a five-wave Elliott Wave pattern that occurs at the beginning of a trend, found in wave 1 or A, and signals a continuation of the trend. It differs from an impulse wave by having a 5-3-5-3-5 internal structure and features the overlap of waves 4 and 1. Leading diagonals appear as converging wedge shapes and can be either contracting or expanding.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.