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TOPIC: Ending Diagonals

Ending Diagonals 29 Apr 2014 07:56 #1

  • diver993
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In response to a question asked last evening on chat, this is what ending diagonals look like.....


dl.dropboxusercontent.com/u/7238706/imag...nding%20diagonal.jpg

.....The corresponding RSI should look just the same in that if a candlestick goes up so should the RSI in similar proportion because this construction is based on reducing volume and strength - which is exactly what the RSI measures. It is a constricting diagonal shape. If the RSI steps out of line then forget the ED: it's an ABC. It's exactly the same with triangle patterns.

You will also want to see divergence in the wave 3, as in any other 5 way move. This is the only structure in which wave 4 can overlap wave 1.

Hope this is of some help - I know I'm not patient, nor wordy enough, to teach well ;) :whistle:
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