5th wave

This is all from Claude AI:

The Rule of Alternation states that if one impulse wave in a five-wave sequence is extended (significantly longer than the others), the other two impulse waves will typically not be extended. This means:

If wave 2-3 is 1.272 times the size of wave 0-1, this means that the distance from point 2 to point 3 is 127.2% of the distance from point 0 to point 1.
In this context, this relationship could indicate:

Wave 3 is likely extending (which is common, as wave 3 is often the longest impulse wave)

The move has good momentum, as the 1.272 extension suggests strength in the trend direction

This Fibonacci relationship helps confirm that you're correctly identifying the wave structure

In Elliott Wave Theory, measuring the height of wave 0-1, multiplying it by 1.618 (the Golden Ratio), and projecting this distance from the bottom of wave 4 is a standard method for establishing a wave 5 target.