Typical Ending Diagonal Characters
One of the Most Interesting Point Observed by R N Elliott is Behavior of Mass psychology during formation of Top or Bottom
During Ending of Trend the entire Crowd is Bullish and they are so bullish that the Options seller for PE are selling Options @ throw away price
and CE options are sold at Highest Premium ever it can be sold , Open Interest, Sentiment Indicator , Momentum Indicator all are so bullish at this given point
R N Elliott discovered it and said this is kind of behavior occur when trend is about to end of its Current Move along with 2 degree higher time frame
He could able to describe it as Ending diagonal where the pattern visual formation indicate diagonal of Triangle ( its part of Triangle )
He named it as ending diagonal and it is in practice by all the Elliott wave Theorist / Practitioner
Hope you have understood it ,
Good luck
During Ending of Trend the entire Crowd is Bullish and they are so bullish that the Options seller for PE are selling Options @ throw away price
and CE options are sold at Highest Premium ever it can be sold , Open Interest, Sentiment Indicator , Momentum Indicator all are so bullish at this given point
R N Elliott discovered it and said this is kind of behavior occur when trend is about to end of its Current Move along with 2 degree higher time frame
He could able to describe it as Ending diagonal where the pattern visual formation indicate diagonal of Triangle ( its part of Triangle )
He named it as ending diagonal and it is in practice by all the Elliott wave Theorist / Practitioner
Hope you have understood it ,
Good luck
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