After a 5 wave structure is completed, a 3 wave correction occurs.... We don't know how deep it is...
This why many chartist are using Fibonacci ratio to find targets...
For instance, FVL.t had an obvious 5 wave structure completed.
You can draw the Fibs targets using the tool in stockcharts.com:443/...
For FVLt , it surpassed a 50% retracement... The usual targets are 38%, 50% and 62%...