medium · Elliott Wave Theory fibonacci
In a speculative blow-off top for a commodity, Wave 5 extends significantly.
If Wave 1 was 10 points and Wave 3 was 15 points, what is the most likely Fibonacci relationship to project the extended Wave 5?
- 1.618 times the net distance from the origin to the end of Wave 3.
- It would likely be projected as 0.618 times the length of Wave 3.
- This targets a standard, unextended Wave 5 equal to 1.618 times Wave 1.
- It would simply equal the length of Wave 1 of the sequence.
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