A bearish explanation on this frame of Platinum’s daily chart :
After completing an “A-Triangle B-C” formation as the last wave of the converging triangle wave B at terminus point of 1523.8 , Platinum slide down in an impulsive five-waves sequence, which could be only an initial subsequent of wave C decline. Also, it appears that the first wave has been corrected in a flat formation as a second wave of the current sequence-down.
Currently, the leading expanding diagonal wave (i), as a initial bearish concept, could infer to extend of an impulsive third wave of the ongoing wave C down.
Leading Expanding Diagonal :
” A leading diagonal can also take an expanding shape. This form appears to occur primarily at the start of declines… ”