Hi DS I'm not sure I'm following why you think that? I project wave 3 by measuring the start to end of wave 1, i.e 0 - 100% and then project this from the end of wave 2 to find likely wave 3 targets - usually 1.618 or if it overshoots then 2.618. I think we are on the same page there? Not sure why it looks like I'm doing something different.
I.e. wave 1 does what it does. Wave 2 retraces by some fib ration usually 50% or 61.8% of Wave 1 Wave 3 then proceeds in the direction of wave 1 and is iether 1.618 or 2.618 x the length of wave 1
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