Is the wedge (a sloping triangle) always a diagonal triangle?

The answer is yes… The drawn wedges following the classic technical analysis criteria will greatly help the Elliott wave approach in establishing the main landmarks in the market development stage and decision taking timing. However, keep in mind that it might also contain impulsive and corrective same-degree subwaves. The drawn diagonal triangles complying with the Elliott wave principle criteria, containing only impulsive entities, represent genuine triangular impulsive subwave, wave or pattern. The doubling of the diagonal triangle upper / lower limit with their parallel lines, prolongations and apexes, constitute a reliable source of information on the trading arena. Also, the terminal subwave c: (v): W5 of the diagonal triangle could make a very profitable day, if the trader anticipates through Fibonacci ratios, an under-throw, an limit-throw or an over-throw (listed here in their profit potential order).