fib extensions for W5

[douji]

Hello all,

What fib extension values should I use for determining the end of Wave 5? 1.618 and 2.618?

Cheers

douji

[DuaneG]

Hi douji,

When you have a chance, you may want to review some of the Advanced Get Training Videos that we have available at eSignal Central. These videos cover a good portion of the Fibonacci retracement and extension theory that is applied to the Advanced Get indicators.

[douji]

Those studys cover wave 3 fib extensions and wave 4 fib retracements. My question basically asked do I use the same fib extension values for wave 5 as what was suggested wave 3

Cheers

douji

[DuaneG]

Hi douji,

The most common Fibonacci values for a Wave 5 pattern are .618 and 1.00. These tend to be where the Wave 5 patterns are most likely to come to an end. Hope this helps.

[eSignal_EricL]

Wave 5 Extensions

Wave 5 has 2 sets of fibonacci extentions depending the length of Wave 3 compared to Wave 1.

If Wave 3 is greater than 1.62 of Wave 1, then Wave 5 will be 1.0, 1.62 or 2.62 of Wave 1.

If Wave 3 is less than 1.62 of Wave 1, then Wave 5 will be .62, 1.0, or 1.62 of the length measured from the beginning of Wave 1 to the end of Wave 3.

The MOB is also a very useful tool to project the end of Wave 5.