Elliot Wave Ending diogonal Wave with converging lines

Most ending diagonals have a wedge shape to them where they fit within two converging lines. However, there are cases where the wedge is expanding (though it is rare).

Please keep in mind that the sub-waves of the ending diagonal, consisting of three waves each, are corrective in nature. See the section on corrective waves for more detail on their formation.

Leading Diagonals
Leading diagonals are rare, and are found in either the Wave 1 position of an impulse wave, or in the Wave A position of a zigzag correction. They have a 5-3-5-3-5 wave structure like an impulse, but in this case, Wave 2 and Wave 4 overlap, and they form a wedge pattern with converging boundary lines.

Because of the five-wave subdivisions of Waves 1, 3, and 5, this pattern indicates continuation of the trend where the ending diagonal pattern of 3-3-3-3-3 indicates termination of the trend. After the market corrects - and does not correct beyond the beginning of the leading diagonal - one can expect the trend to continue in the direction of the leading diagonal.