EURUSD - Elliott Analysis 1:14 Risk Reward

Fibonacci ratios are frequently used to anticipate the length and retracement levels of ABC waves:

Wave B: Traders often look for Wave B to retrace 38.2%, 50%, 61.8%, or other Fibonacci ratios of Wave A.
Wave C: Traders often look for Wave C to be equal in length to Wave A or related to it by a Fibonacci ratio (e.g., 1.618 times the length of Wave A).
Follow Chart