elliott waves Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1 • Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2 • Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50% • There are three different ways to measure wave 5. First, wave 5 is 61.8%, 100%, or 123.6% of wave 1. Second, wave 5 can be measured as 23.6%, 50%, or 61.8% external retracement of wave 4. Third, wave 5 is 61.8% of wave 1-3
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Wave B = 50%, 61.8%, 76.4% or 85.4% of wave A • Wave C = 61.8%, 100%, or 123.6% of wave A • If wave C = 161.8% of wave A, wave C can be a wave 3 of a 5 waves impulse. Thus, one way to label between ABC and impulse is whether the third swing has extension or not
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Wave X = 50%, 61.8%, 76.4%, or 85.4% of wave W • Wave Y = 61.8%, 100%, or 123.6% of wave W • Wave Y can not pass 161.8% of wave W
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Wave X = 50%, 61.8%, 76.4%, or 85.4% of wave W • Wave Z = 61.8%, 100%, or 123.6% of wave W • Wave Y can not pass 161.8% of wave W or it can become an impulsive wave 3
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12345 waves are impulse waves ABC and WXYXZ are corrective waves