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Strategies & Market Trends : Classic TA Workplace

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To: Perspective who wrote (624)	4/23/2001 10:54:18 AM
From: AllansAlias	Read Replies (2) of 209892

To all: This entire message is the sort of thing to check out after hours... BC, One could ignore diagonals and still trade very successfully -- obviously. I don't want to sidetrack the trading today with this sort of thing, especially since these are quite rare. Diagonals usually occur in 5th's or C's as you noted, but they can also occur less frequently in 1's and A's. They are AFU because they look like corrective structures (move in 3's instead of 5's) and the waves overlap. The lines (pattern) have to converge wedgie-like, waves 4 and 1 overlap, they trace out either a 5-3-5-3-5 or a 3-3-3-3-3. Diagonals show up more often in the wiggle charts, not in high degree wide-timeframe moves.

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