For Newer Readers

Try to learn the item on this chart. It shows 'why' counting a diagonal may be possible here. It has to do with the degree labels. Although the chart uses some non-standard degree labels, they are meant to be relative only to convey the point.

In the chart, the -ii label is meant to be one degree smaller than ④. Further, the (B) is meant to be one degree smaller than -ii. Note: the UP waves are only compared to prior UP waves (i.e. the waves before ④ to see if they are smaller than those waves.

The prospect of a contracting diagonal is always intriguing, but the reason they can bust is that the waves get progressively smaller, and therefore, they can be a misleading nested 1-2-i-ii count instead. So, in this count to maintain a diagonal, then wave -v must remain smaller than wave -iii. If it does - great! If not, the count simply is revised - no whining, wailing or gnashing of teeth because the reason is explained as to how they can bust or be confused with other waves. That is simply the nature of EW.

Have an excellent rest of the evening,

TraderJoe