To recognise Elliott Wave patterns correctly is essential when trading with this methodology. So the question if the Expanding Diagonal Patterns exist is an important discussion in this young and successful science. Read this treatise and find out for yourself.

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Treatise about the Diagonal Ending Expanding
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2. Elliott’s inclusion of the
Contracting Diagonal
fig. #1 R.N. Elliott’s Triangles - First introduction to diagonal patterns
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In R.N.Elliott’s original treatise of The Wave
Principle (1938), he introduces us to diagonal
patterns for the first time on page 21. Under
the heading, ‘Triangles’, Elliott describes the
difference between horizontal triangles that
represent ‘hesitation’ within an ongoing,
progressive trend and diagonal triangles that
form the concluding 5th
wave of a larger five
wave sequence {see fig #1}.
In both instances, Elliott illustrates five smaller
sub-sequences within each pattern. We are
familiarwithcounter-trend/correctivetriangle
patterns subdividing into five swings, a-b-c-
d-e as these are common events found in price
activity. Interestingly, Elliott describes the four
different types of counter-trend/corrective
triangles, two of which are the contracting
(symmetrical) and expanding (reverse-
symmetrical) versions.
The Elliott Wave Principle
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3. fig. #2 The mirror image of diagonal patterns
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Each is a mirror image of the other, or in other
words, is an inversion of the other. We have
recognised this phenomenon whilst building
the Elliott Wave tutorial patterns for
WaveSearch.
Tip – print out or hand-draw a contracting-
symmetrical triangle, include the narrowing
boundary lines then simply turn the page over
horizontally then hold up to the light and
you will see the expanding-triangle!
The diagonal-triangle in current day EW
folklore is often referred to as a rare pattern,
but this is not true to the keen observer, as
they can be found repeatedly across many of
the varying asset classes. Elliott drew an
illustration of the diagonal-triangle {see fig #2}
in the 5th
wave location as a contracting type
pattern, where the price activity begins from
the widest point and ends at the narrowest,
almost to an apex.
The Expanding-Diagonal,a mirror
image of the Contracting type pattern
The Elliott Wave Principle
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4. fig. #3 Frost & Prechter’s discovery of the expanding diagonal
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But he did not describe or illustrate its mirror
image, or inverted counterpart that we refer to
today as an expanding-diagonal, where the
starting point is narrowest and the widest at
the completion of the pattern. So why did
Elliott make this omission when he clearly
documented a similar mirror image/inversion
for the horizontal triangle pattern?
Read more about this fascinating
subject, review historical charts and
learn more about how this relates to
financial markets...
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download the free full report!
The Elliott Wave Principle
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