5 wave ABC = leading diagonal triangle = A wave down
educational material of Elliot wave Leading diagonal
Structure (3-3-3-3-3) OR (5-3-5-3-5)
In real-time charting,
you should NEVER label a developing wave as a leading diagonal.
These are so rare you should not even consider them as an option.
You should label leading diagonals as such only on past charts when there is no other wave count that fits.
so this pattern must not drawed/predicted
because of huge chance the draw might be wrong
like my previous 2 triangle ideas (well.. i'm still learning that's why I draw those ideas)
SOURCE: Elliot wave international
1. A beginning wave pattern.
May only form as Wave 1 or as Wave A of a Zigzag. .
2. Elliott Wave International notes that the vast majority of leading diagonals divide into 3 wave substructures (3-3-3-3-3),
but also note that a few have been found with 5-3-5-3-5 structure, yet Wave 4 will still enter the price territory of Wave 1 - which is what makes it a diagonal.
3. Frequently you will see a throw-over the trend line in wave 5.
You can almost expect to see it.
Very normal attempt to shake out weak hands before moving in the opposite direction.
4. Diagonals are usually followed by a quick thrust in the direction of the next wave that completely eclipses the diagonal wave. That normally completes takes only 1/2 to 1/3 of the time it took for the pattern to form.
Structure (3-3-3-3-3) OR (5-3-5-3-5)
In real-time charting,
you should NEVER label a developing wave as a leading diagonal.
These are so rare you should not even consider them as an option.
You should label leading diagonals as such only on past charts when there is no other wave count that fits.
so this pattern must not drawed/predicted
because of huge chance the draw might be wrong
like my previous 2 triangle ideas (well.. i'm still learning that's why I draw those ideas)
SOURCE: Elliot wave international
1. A beginning wave pattern.
May only form as Wave 1 or as Wave A of a Zigzag. .
2. Elliott Wave International notes that the vast majority of leading diagonals divide into 3 wave substructures (3-3-3-3-3),
but also note that a few have been found with 5-3-5-3-5 structure, yet Wave 4 will still enter the price territory of Wave 1 - which is what makes it a diagonal.
3. Frequently you will see a throw-over the trend line in wave 5.
You can almost expect to see it.
Very normal attempt to shake out weak hands before moving in the opposite direction.
4. Diagonals are usually followed by a quick thrust in the direction of the next wave that completely eclipses the diagonal wave. That normally completes takes only 1/2 to 1/3 of the time it took for the pattern to form.
Using MACD 1 H to determine the wave and change of trend