Elliott Wave Glossary Fibonacci Ratios
The tendency for related waves within the same impulse or correction to maintain Fibonacci ratio relationships. Still an evolving area of research.
Proportional relationship
Elliott Wave Glossary Elliott Wave Glossary Fibonacci Ratios: Wave 3 Extension
When wave 3 extends, its target is 1.618×, 2.618×, or 4.236× the length of wave 1.
Elliott Wave Glossary Fibonacci Ratios: Wave 5 Extension
When wave 5 extends, it typically reaches 1.618× the distance from the start of wave 1 to the end of wave 3.
Elliott Wave Glossary Fibonacci Ratios: Wave 1 Extension
When wave 1 extends, the distance from the end of wave 2 to the end of wave 5 is typically 0.618× the length of wave 1.
Elliott Wave Glossary Depth of Corrective Wave (Previous Fourth Wave)
The 4th wave of an impulse tends to correct into the price range of the previous wave's 4th sub-wave. Retracement guidelines also apply to other corrective waves.