About diagonals....
Expanding diagonals, they are not often specially in daily, hourly timeframes, but what about higher ones? As Peter Goodburn said:
"Returning to the expanding-diagonal, the question remains, does it exist, can it have a place within the Elliott Wave Principle? To my own satisfaction, I have proved that it does, and that it is more commonly found unfolding that generally accepted. But you have to prove this to yourself. Yet, if the expanding diagonal is a recurring pattern that is not so rare, why has it been discarded to the point of inexistence? The answer maybe simple - because the old indoctrination prevented us looking for it. Why search for something that your told does not exist" ( Goodburn , wave track international)
It has recently come to light that a diagonal occasionally appears in the wave 1 position of impulses and in the wave A position of zigzags. In the few examples we have, the subdivisions appear to be the same: 3-3-3-3-3, although in two cases, they can be labeled 5-3-5-3-5, so the jury is out on a strict definition. Analysts must be aware of this pattern to avoid mistaking it for a far more common development, a series of first and second waves. A leading diagonal in the wave one position is typically followed by a deep retracement. ( Elliot Wave international)
"Returning to the expanding-diagonal, the question remains, does it exist, can it have a place within the Elliott Wave Principle? To my own satisfaction, I have proved that it does, and that it is more commonly found unfolding that generally accepted. But you have to prove this to yourself. Yet, if the expanding diagonal is a recurring pattern that is not so rare, why has it been discarded to the point of inexistence? The answer maybe simple - because the old indoctrination prevented us looking for it. Why search for something that your told does not exist" ( Goodburn , wave track international)
It has recently come to light that a diagonal occasionally appears in the wave 1 position of impulses and in the wave A position of zigzags. In the few examples we have, the subdivisions appear to be the same: 3-3-3-3-3, although in two cases, they can be labeled 5-3-5-3-5, so the jury is out on a strict definition. Analysts must be aware of this pattern to avoid mistaking it for a far more common development, a series of first and second waves. A leading diagonal in the wave one position is typically followed by a deep retracement. ( Elliot Wave international)
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