What is a diagonal in Elliott Wave?
A diagonal is a special 5-wave Elliott pattern shaped like a wedge, where Wave 4 overlaps Wave 1 (the only place this is allowed). Two types exist: a leading diagonal appears at Wave 1 position, an ending diagonal appears at Wave 5 position. Both signal trend exhaustion.
Full Explanation
Diagonals are the explicit exception to the rule that Wave 4 cannot overlap Wave 1. The structure is wedge-shaped, with converging or diverging trendlines, and each sub-wave unfolds in 3 sub-sub-waves rather than 5. Two types appear in practice. Leading diagonals appear at Wave 1 of an impulse or Wave A of a correction — they signal that the new move is starting hesitantly. Ending diagonals appear at Wave 5 of an impulse or Wave C of a correction — they signal that the move is exhausting itself and a sharp reversal is imminent. Diagonals are relatively rare compared to standard impulses (perhaps 10-15% of 5-wave structures) but they're important to recognize because the rules and projections differ from standard impulses. Misidentifying a diagonal as a standard impulse leads to wrong Fibonacci projections and wrong invalidation levels.
- → Elliott Wave Theory Guide — the 5-3 pattern, rules, Fibonacci, wave degrees
- → How to Count Elliott Waves — 6-step process used on 108 instruments
- → Elliott Wave Fibonacci Guide — the 7 core ratios and how they're applied
- → Rules and Guidelines — the 3 absolute rules + 7 guidelines
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