DOGE leading Diagonal in 1w position, rare figureHere is my alternative waves count. Diagonal in this position is rare figure in both scenarios, a bear and a bull. The ratios are matching for labeling variants.
In this situation an external indicators may help us to decide which side is right.
A Diagonal is only five-wave structure in the direction of the main trend, within which wave 4 almost always moves into the price territory of wave one and within which all the waves are "threes" or can be labeled 5-3-5-3-5;
A Diagonal appears occasionally in the wave 1 position of impulses and in the wave A position of Zigzags. An ending diagonal occurs primarily in the fifth wave position at times when the preceding move has gone "too far too fast". A very small percentage of diagonals appear in the C-wave position of A-B-C formations.
In all cases, they are found at the termination points of larger patterns, indicating exhaustion of the larger movement. Ending diagonal often ends in a “throw-over,” i.e., a brief break of the trendline connecting the end points of waves one and three.
Have a fat profit!
