A diagonal is a relatively rare motive wave pattern. It consists of five waves and, in accordance with the rules of the standard notation of wave analysis, it is labeled with numbers 1, 2, 3, 4, 5.
For identification on the chart (in order not to be confused with an Impulse), diagonals are framed by forming lines. The first (upper) framing line is drawn at the end of waves 1 and 3, and the second (lower) framing line is drawn at the end of wave 2 and the end of wave 4.
There are 4 rules for a Diagonal:
Leading and ending diagonal waves in Elliott Wave Theory are Motive Patterns. They replace impulse waves at a specific location in the wave structure.
Leading Diagonals occurs in:
– waves 1 of impulse
– waves A of single zigzag
Leading Diagonal: 5-3-5-3-5 or 3-3-3-3-3.
Ending diagonals occurs in:
– waves 5 of impulse
– waves С of single zigzag
– waves С of flat
Ending Diagonal: 3-3-3-3-3.