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From: http://www.elliott-wave-theory.com/elliott3.html#fibonacci

If, for example a wave 1 or A of any degree (or time frame) has been completed, you can project retracements of 0.382, 0.50 and 0.618 for wave 2 or B, which will give you your targets. Most of the time the third wave is the strongest, so often you will find that wave 3 is approximately 1.618 times wave 1. Wave 4 normally shows a retracement, which is less than wave 2, like 0.236 or 0.382. If wave three is the longest wave, the relationship between wave 5 and three often is 0.618. Also wave 5 equals wave 1 most of the time.

The same relations can be found between A and C waves. Normally C equals A or is 1.618 times the length of A.

You could even combine waves to find support and resistance zones. For example the net price movement of wave 1 and 3 times 0.618 creates another interesting target for wave 5.

It is worthwhile to experiment a lot with your wave count, Fibonacci will help you to solve the rhythm of the markets.

Targets for wave 1
The first wave, a new impulsive price movement, tends to stop at the base of the previous correction, which normally is the B wave. This often coincides with a 38.2% or a 61.8% retracement of the previous correction.

Targets for wave 2
Wave 2 retraces at least 38.2% but mostly 61.8% or more of wave 1. It often stops at sub wave 4 and more often at sub wave 2 of previous wave 1. A retracement of more than 76% is highly suspicious, although it doesn't break any rules yet.

Targets for wave 3
Wave 3 is at least equal to wave 1, except for a Triangle. If wave 3 is the longest wave it will tend to be 161% of wave 1 or even 261%.

Targets for wave 4
Wave 4 retraces at least 23% of wave 3 but more often reaches a 38.2% retracement. It normally reaches the territory of sub wave 4 of the previous 3rd wave.

In very strong markets wave 4 should only retrace 14% of wave 3.

Targets for wave 5
Wave 5 normally is equal to wave 1, or travels a distance of 61.8% of the length of wave 1. It could also have the same relationships to wave 3 or it could travel 61.8% of the net length of wave 1 and 3 together. If wave 5 is the extended wave it mostly will be 161.8% of wave 3 or 161.8% of the net length of wave 1 and 3 together.