US100 3June2023

it could be that wave 5 is extending to the 1,618 level, this does not violate the elliot wave rule.

Many people misunderstand the Elliot wave rule, they think that wave 3 must be the longest, but in fact wave 3 is not the shortest. in this case wave 3 is longer than wave 1, but wave 5 is longer than wave 3. so, wave 3 is still not the shortest of the 3 impulse waves that occurred.