Isn’t wave3 supposed to be longest and goes up to 1.618 times wave1?
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@aliakhtar, A correct Elliott wave count must observe three rules:
Wave 2 never retraces more than 100% of wave 1.
Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation.
You said : "wave3 supposed to be longest and goes up to 1.618 times wave1?"
EWT Rules: Wave 3 cannot be the shortest of the three impulse waves, ( Nothing else ! )