Impulse
Wave 3
Usually the longest and most powerful impulse wave. Wave 3 is never the shortest of waves 1, 3, and 5. It commonly extends to 161.8% of Wave 1 and often features the strongest momentum, highest volume, and widest price bars. This is where professional traders aim to capture the largest moves.
EXAMPLE
In EURUSD, Wave 1 moves 100 pips, Wave 2 retraces 62 pips, then Wave 3 surges 162 pips (161.8% of Wave 1).