medium · Elliott Wave Theory corrective
How can an analyst distinguish between an ending diagonal and a contracting triangle during a terminal price move?
- Diagonals must have horizontal boundary trendlines, but triangles have converging slanted trendlines instead.
- Triangles can only appear on daily or hourly price charts, whereas ending diagonals appear only on weekly and monthly charts.
- Triangles always resolve with a full trend reversal, whereas ending diagonals merely pause the prior trend before it fully continues.
- Diagonals are numbered 1-2-3-4-5 and move in the trend direction; triangles are lettered A-B-C-D-E and move sideways.
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