# Elliot Waves Complete Guide | Chapter 4.6 - "ABC Fib Lengths"

Education
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Hello Traders. Welcome to Chapter 4.6! This is FINAL CHAPTER of my Elliott Waves series that took me 6 months to create starting from chapter 1. Here we will finally conclude with learning about the "Fibonacci Ratio Lengths for Corrective Wave Multiples". In the previous sub-chapter, we learned how to apply Fibonacci lengths for waves 1-5, now we will learn how to apply them to A-B-C corrections. This chapter is related to chapter 3.1 (corrective waves), so it would be best to re-visit or master that chapter first.

📚Chapter 4 Glossary:

4.1 Alternation
4.2 Channeling
4.3 Psychology
4.4 Fib-Ratio
4.5 Motive Wave Multiples
📖 4.6 Corrective Wave Multiples

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Corrective Wave Multiples for an A-B-C Correction Overview
"How to Calculate the wave lengths for waves ABC"

1) In a Zig-Zag correction (go back to chapter 3.1 if you don't know what a zig-zag correction is), the length of wave C is usually the same length and equal to that of wave A, as shown in Diagram ①. But other ratios like the 161.8% (again, commonly referred to as the 1.618 fib) or the 61.8% (.618 fib), also happens within its structure for determining the length of wave C.

2) This specific ratio can also be applied to the first and the second zig-zag in a WXY 'double zig-zag correction' that can be seen in Diagram ②.

3) In diagram ③, we have a flat correction that can also be measured via Waves A,B,C - which are quite equal; however, the extended flat correction from the beginning of Wave B to Wave C has different ratios applied. In this case, wave C often represents the 161.8% (1.618 fib) extension of wave A.

NOTE: the concept of measuring the waves should always be the second part when analyzing the markets. Do not expect to correctly measure a target for a wave, if the overall count is not valid and rules were broken. The fibonacci numbers are complementary applied to the Elliott Wave theory.

THANK YOU! Refer to every chapter below, and happy learning. In future posts, we will be learning how to apply them in a PRACTICAL sense to the real markets! But first, we must memorize these chapters by heart as these chapters are the foundation to the whole Elliott Wave Theory.

X Force
Comment: Elliot Waves Complete Guide | Chapter 1 - "The Overall Cycle"
Comment: Elliot Waves Complete Guide | Chapter 2.1 - "Motive Waves"
Comment: Elliot Waves Complete Guide | Chapter 2.2 - "Ending Diagonal"
Comment: Elliot Waves Complete Guide | Chapter 2.3 - "Extensions"
Comment: Elliot Waves Complete Guide | Chapter 3.1 - "Corrective Waves"
Comment: Elliot Waves Complete Guide | Chapter 3.2 - "Flat-Expanded Flat"
Comment: Elliot Waves Complete Guide | Chapter 3.3 - "Running, Contract"
Comment: Elliot Waves Complete Guide | Chapter 3.4 - "Barrier/Expanded"
Comment: Elliot Waves Complete Guide | Chapter 3.5 - "Double Three"
Comment: Elliot Waves Complete Guide | Chapter 3.6 - "Triple Three"
Comment: Elliot Waves Complete Guide | Chapter 4.1 - "Alternation"
Comment: Elliot Waves Complete Guide | Chapter 4.2 - "Channeling"
Comment: Elliot Waves Complete Guide | Chapter 4.3 - "Market Psychology"
Comment: Elliot Waves Complete Guide | Chapter 4.4 - "Fibonacci Ratios"
Comment: Elliot Waves Complete Guide | Chapter 4.5 - "Fibonacci Lengths"

Congrats on the project! We learned a lot and we hope others enjoyed did too. Your last chapter has been featured in Editors' Picks.
@TradingView, Thank you so much for providing the proper resources, tools, and the consistent updates to your platform. You have not only developed a phenomenal #1 standing in fintech, but you have given the opportunity to others for properly obtaining resources through a healthy community. It has not only changed my life but other lives as well.
Round of applause on the 6 month project. Well done. I will go back and read all the others
scheplick
@scheplick, Highly appreciate, Scheplick. Always looking forward to reading your content and from time to time, I love browsing through your personal feeds.
Great piece of work!