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subhagghosh

#banknifty ending diagonal 5th Wave a possibility.

Nifty Bank Index (NSE:BANKNIFTY)  
subhagghosh  
NSE:BANKNIFTY   Nifty Bank Index
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An ending diagonal serves as the top stone of an impulse (wave 5) or a zigzag (wave C), so let's find out more about an ending diagonal pattern.

The main rules for an ending diagonal
  • This pattern subdivides into five waves.
    Wave 2 never ends beyond the starting point of Wave 1.
    Wave 3 always breaks the ending point of wave 1.
    Wave 4 usually breaks beyond the ending point of wave 1.
    Wave 5 in the absolute majority of cases breaks the ending point of wave 3.
    Wave 3 can't be the shortest.
    Wave 2 can't be a triangle or a triple three structure.
    Waves 1, 3, and 5 form like zigzags.

Regards,
SG
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