ETH 8-9-2024
A Diagonal Triangle in Elliott Wave theory is a wave pattern that consists of 5 waves, but it has a unique characteristic where the waves tend to overlap. It can occur in two types:
1. Leading Diagonal
This pattern occurs in the first wave of an impulse (Wave 1) or in Wave A of a correction. It shows the beginning of a strong trend, and the wave structure follows the 5-3-5-3-5 sequence.
2. Ending Diagonal
This pattern occurs at the end of a trend, typically in Wave 5 of an impulse or Wave C of a correction. The structure indicates that the current trend is weakening, and it also follows the 5-3-5-3-5 sequence. The waves in an Ending Diagonal are often more choppy and less directional.
Summary: A Diagonal Triangle consists of 5 waves, and it can either be a Leading Diagonal (at the beginning of a trend) or an Ending Diagonal (at the end of a trend). The waves tend to overlap and usually signal either the start or end of a price movement.
1. Leading Diagonal
This pattern occurs in the first wave of an impulse (Wave 1) or in Wave A of a correction. It shows the beginning of a strong trend, and the wave structure follows the 5-3-5-3-5 sequence.
2. Ending Diagonal
This pattern occurs at the end of a trend, typically in Wave 5 of an impulse or Wave C of a correction. The structure indicates that the current trend is weakening, and it also follows the 5-3-5-3-5 sequence. The waves in an Ending Diagonal are often more choppy and less directional.
Summary: A Diagonal Triangle consists of 5 waves, and it can either be a Leading Diagonal (at the beginning of a trend) or an Ending Diagonal (at the end of a trend). The waves tend to overlap and usually signal either the start or end of a price movement.
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