FALLING WEDGE ELLIOTT WAVE HOW TO

Price behavior following an ending diagonal is quite impressive because it tends to be swift, retracing the entire length of the pattern. Also, trendlines connecting the extremes of waves one and three, and two and four, often converge.Įnding diagonals can form only in the fifth wave position of an impulse wave or the wave C position of an A-B-C formation. Specifically, it is a five-wave overlapping pattern wherein each wave subdivides into three smaller waves. Today, we are going to examine an ending diagonal in Union Pacific (UNP).Īn ending diagonal is an easily discernible wave pattern because it looks like a rising (or falling) wedge. Zigzags, flats and triangles are all corrective wave patterns. Within these two categories, motive waves include impulse waves and ending diagonals. There are two major types of Elliott wave structures - motive and corrective. You can apply these methods across any market and any time frame. Today, he shares a video lesson about trading one of his favorite Elliott wave patterns, the diagonal.

FALLING WEDGE ELLIOTT WAVE HOW TO

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Falling wedge elliott wave