Diagonal Triangle Pattern

Diagonal Triangle

Description

 

Diagonals are sort of impulsive patterns, which normally occur in terminal waves like a fifth or a C wave. Don’t confuse them with corrective triangles.


Diagonals are relatively rare phenomena for large wave degrees, but they do occur often in lower wave degrees on intra-day charts. Usually Diagonal triangles are followed by a violent change in market direction.

Rules and guidelines


The most important rules and guidelines are:
• It is composed of 5 waves.
• Waves 4 and 1 do overlap.
• Wave 4 can’t go beyond the origin of wave 3.
• Wave 3) cannot be the shortest wave.
• Internally all waves of the diagonal have a corrective wave structure.
• Wave 1 is the longest wave and wave 5 the shortest.
• The channel lines of Diagonals must converge.
• As a guideline the internal wave structure should show alternation, which means different
kind of corrective structures.


In which wave


Diagonal triangles type 1 occur in waves 5, C, and sometimes in wave 1.
Internal structure.
The internal structure of the five waves is 3-3-3-3-3.

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