Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1 • Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2 • Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50% • There are three different ways to measure wave 5. First, wave 5 is 61.8%, 100%, or 123.6% of wave 1. Second, wave 5 can be measured as 23.6%, 50%, or 61.8% external retracement of wave 4. Third, wave 5 is 61.8% of wave 1-3