How far does Wave 3 typically extend?
Wave 3 most commonly extends to 1.618× the length of Wave 1, measured from the Wave 2 low. Strong impulses extend to 2.618× Wave 1. Wave 3 is typically the longest of Waves 1, 3, and 5, and can never be the shortest by absolute rule.
Full Explanation
Wave 3's typical extension is 1.618× Wave 1 — the golden ratio projection. To compute: measure Wave 1's price range from the impulse origin to Wave 1's peak, multiply by 1.618, and add to the Wave 2 low. The resulting price is the most common Wave 3 termination zone. In strong impulses with high participation, Wave 3 extends to 2.618× Wave 1 (1.618 squared). In stocks experiencing exceptional momentum — growth stock breakouts, post-earnings runs, sector rotations — Wave 3 can occasionally extend to 4.236× Wave 1 or beyond. The absolute rule constrains Wave 3 only from the lower bound: it cannot be the shortest of Waves 1, 3, and 5. Practically, Wave 3 is the longest impulse wave in roughly two-thirds of completed 5-wave structures.
- → Elliott Wave Theory Guide — the 5-3 pattern, rules, Fibonacci, wave degrees
- → How to Count Elliott Waves — 6-step process used on 108 instruments
- → Elliott Wave Fibonacci Guide — the 7 core ratios and how they're applied
- → Rules and Guidelines — the 3 absolute rules + 7 guidelines
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