According to Elliott wave theory, the first, third and fifth waves are proportional by the 1 to 1.618 to 1 ratio, known as the Fibonacci ratio. Figure 1 illustrates the basic five-wave sequence of the Elliott wave, and Figure 2 shows how waves 1,3 and 5 relate based on the Fibonacci ratio. 5 year subscription to Working Money. Free book selection. Limited time offer.
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