What are the key Fibonacci retracement levels?

The key levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6%. Wave 2 commonly retraces to 61.8% and Wave 4 to 38.2%.

What is the 161.8% Fibonacci extension?

Wave 3 frequently extends to 161.8% of Wave 1. This is the most important Fibonacci relationship in Elliott Wave.

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Fibonacci levels are guidelines, not guarantees. Always combine with Elliott Wave rules and price action confirmation.

How to Use Fibonacci in Elliott Wave

Wave 2 Retracement

Wave 2 commonly retraces 50% to 61.8% of Wave 1. A retracement deeper than 78.6% is a warning sign. Wave 2 can never retrace more than 100%.

Wave 3 Extension

Wave 3 frequently extends to 161.8% of Wave 1. This is the single most important Fibonacci relationship. When Wave 3 reaches 161.8%, it confirms a strong impulse.

Wave 4 Retracement

Wave 4 typically retraces 38.2% of Wave 3. A 23.6% retracement indicates extreme strength. Wave 4 cannot overlap Wave 1 territory.

Wave 5 Projection

Wave 5 often equals Wave 1 in length (100%) or reaches 61.8% of the net distance from Wave 1 through Wave 3.

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