Extended Fifth
Wave
These
are always very tough but there are normally some pointers to guide or suggest
that an extension may occur. The following example was provided in Chapter 3
and was of an extended Wave -v-of Wave (c) of Wave (v).
In
Chapter 3 I provided Figure 3.13 as an example of an extended fifth wave (shown
in Figure 4.10). The wave relationships are shown in Table 4.5. Note that the
common Wave (c) projection at 105.43% offered a potential target at 1.1353,
while the wave equality target in a Wave -v-extension was implied at 1.1349.
Overall, the 66.7% target in Wave (v) was at 1.1361. Therefore, the general
1.1350-60 area was implied by several different measurements. Even the 385.4% projection
in Wave -c-of Wave -v-pointed to 1.1349 also but would be observed as being
able to fit that target. Attempting to predict such excessive moves is always
accompanied by some uncertainties.
Figure
4.10 A Three-Wave Decline in Five-Minute USDCHF with an Extended Wave
-v-of Wave (c)
Table
4.5 Wave Relationships for the Three-Wave Decline
in Figure 4.10