What Fibonacci ratio works best for Wave 5?

Wave 5 most commonly equals Wave 1 in length and duration (the equality guideline), or extends to 0.618× the length of Waves 1 through 3 measured from the Wave 4 low. Both projections are widely watched and produce strong reaction zones.

Wave 5 has two primary Fibonacci-based projections, both used in Elliott Wave's equality guideline. First projection: Wave 5 equals Wave 1. Compute by measuring Wave 1's price range and adding to the Wave 4 low (in an uptrend). This is the most common Wave 5 target when Wave 3 was the extended wave — the impulse's typical 'normal' outcome. Second projection: Wave 5 extends 0.618× the length of Waves 1 through 3. Compute by measuring from the impulse origin to the Wave 3 peak, multiplying by 0.618, and adding to the Wave 4 low. This projection is more common in strong, broad-based trends where Wave 5 itself extends. Less common Wave 5 targets include 1.618× Wave 1 (when Wave 5 is itself the extended wave) and truncation (Wave 5 fails to exceed Wave 3, signaling exhaustion).

• → 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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Weekly wave counts on 108 US instruments

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