Good morning traders,
We are looking at a potential leading diagonal for the EURGBP
A leading diagonal consists of five waves, labeled 1-2-3-4-5.
Waves 2 and 4 are always corrective,
Wave 1 is usually the longest
Wave 3 cannot be the shortest among waves 1,3 and 5.
Waves 1 and 4 overlap
Leading diagonals occur in the position of the first wave of an impulse or wave A of a zig-zag correction.
We are now looking to buy on a pull back to form wave 5b
Any thoughts or comments are welcome,
We are looking at a potential leading diagonal for the EURGBP
A leading diagonal consists of five waves, labeled 1-2-3-4-5.
Waves 2 and 4 are always corrective,
Wave 1 is usually the longest
Wave 3 cannot be the shortest among waves 1,3 and 5.
Waves 1 and 4 overlap
Leading diagonals occur in the position of the first wave of an impulse or wave A of a zig-zag correction.
We are now looking to buy on a pull back to form wave 5b
Any thoughts or comments are welcome,