Leading Diagonal

alsaidan · #1 2nd September 2006, 11:24 PM

Based on Elliott theory leading diagonals can be found in wave 1 or A .. can anyone tel me the reason why leading diagonals cannot be found in wave 3?

Prompt answer would be appreciated!

Thanks

amitt29 · #2 3rd September 2006, 03:10 AM

Elliott Wave tells us that Wave 1 or Wave A are weak in nature(inverted or otherwise).Wave 3 and Wave C are dynamic,fast and relentless.
By their very nature leading diagonals are indicators of a continuing trend(5-3-5-3-5) and where wave 1 is longest and wave 5 shortest.
New Elliotticians have fitted this in their 1-2-1-2 count to account for extensions and extensions within extensions.

Hope this helps.
Regards
Amit.

alsaidan · #3 3rd September 2006, 06:39 AM

Quote:

Originally Posted by amitt29

Elliott Wave tells us that Wave 1 or Wave A are weak in nature(inverted or otherwise).Wave 3 and Wave C are dynamic,fast and relentless.
By their very nature leading diagonals are indicators of a continuing trend(5-3-5-3-5) and where wave 1 is longest and wave 5 shortest.
New Elliotticians have fitted this in their 1-2-1-2 count to account for extensions and extensions within extensions.

Hope this helps.
Regards
Amit.

Thanks Amit, yes, very much convincing

I thought of something similar but I was not sure!

Kind regards

amitt29 · #4 3rd September 2006, 11:47 AM

Anytime bhai,
Some more things I wud like to add here is that there is a difference between extensions and subdivisions.
Apart from guidelines that govern Extensions,there are some observations which are associated with extensions
Extensions generally are accompanied by good volume,increasing within extensions of extensions,they trend and not trade,and are almost always accompanied by good fundamentals.
Subdivisons can appear as extensions,but theres less volume decresing with more subdivisions,they generally trade and not trend,and more often than not
fundamentals weaken subtly.
Elliott's channeling technique,further refined by Mr.Neely helps in identifying them.
And lastly subdivisons are actually combinations(Extensions dont combine,only correctives combine).This is my observation.

Warm regards
Amit

alsaidan · #5 4th September 2006, 03:05 AM

Quote:

Originally Posted by amitt29

Anytime bhai,
Some more things I wud like to add here is that there is a difference between extensions and subdivisions.
Apart from guidelines that govern Extensions,there are some observations which are associated with extensions
Extensions generally are accompanied by good volume,increasing within extensions of extensions,they trend and not trade,and are almost always accompanied by good fundamentals.
Subdivisons can appear as extensions,but theres less volume decresing with more subdivisions,they generally trade and not trend,and more often than not
fundamentals weaken subtly.
Elliott's channeling technique,further refined by Mr.Neely helps in identifying them.
And lastly subdivisons are actually combinations(Extensions dont combine,only correctives combine).This is my observation.

Warm regards
Amit

Thanks for the valuable addition