Leading Diagonal

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #10468
    blankfreeforex20
    Participant

    Leading Diagonal

    free forex signals presents special offer
    open trading account with one of the best forex brokers and GET FREE forex Signals via SMS, Email and WhatsApp
    SIGN UP FOR A FREE TRIAL To Access FREE Forex Signals in the Members Area START FREE 30 DAYS TRIAL on https://www.freeforex-signals.com/

    When diagonal triangles occur in the wave 5 or C position, they take the 3-3-3-3-3 shape that Elliott described. However, it has recently come to light that a variation on this pattern occasionally appears in the wave 1 position of impulses and in the wave A position of zigzags. The characteristic overlapping of waves 1 and 4 and the convergence of boundary lines into a wedge shape remain as in the ending diagonal triangle. However, the subdivisions are different, tracing out a 5-3-5-3-5 pattern. The structure of this formation (see Figure 1-20) fits the spirit of the Wave Principle in that the five-wave subdivisions in the direction of the larger trend communicate a “continuation” message as opposed to the “termination” implication of the three-wave subdivisions in the ending diagonal. Analysts must be aware of this pattern to avoid mistaking it for a far more common development, a series of first and second waves. The main key to recognizing this pattern is the decided slowing of price change in the fifth subwave relative to the third. By contrast, in developing first and second waves, short term speed typically increases, and breadth (i.e., the number of stocks or subindexes participating) often expands.

    Figure 1-21 shows a real life example of a leading diagonal triangle. This pattern was not originally discovered by R.N. Elliott but has appeared enough times and over a long enough period that we are convinced of its validity.

    #15781
    blankRobert
    Participant

    In the world of online trading, the main focus for the retail trader is to have a profitable strategy. In that case, It is very much needed to choose a broker who has tight spreads. Low spreads is very essential for the low investors who wants to make a minimum profit with their little investment. Different brokers have different spreads. They vary based on the type of the account, the market activity, and the moment of time during the trading day. As I am also a trader, I trade with Tpglobalfx. It has very low spreads starting from 0 pip, which is very attractive for those who has little amount to invest.

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
 

Related Articles

Login

Our website uses cookies and thereby collects information about your visit to improve our website (by analyzing), show you Social Media content and relevant advertisements. Please see our cookies page for furher details or agree by clicking the 'Accept' button.

blank