  The attractor mechanism is usually thought of as the fixing of the near
horizon moduli of a BPS black hole in terms of conserved charges measured at
infinity. Recent progress in understanding BPS solutions in five dimensions
indicates that this is an incomplete story. Moduli can instead be fixed in
terms of dipole charges, and their corresponding values can be found by
extremizing a certain attractor function built out of these charges. BPS black
rings provide an example of this phenomenon. We give a general derivation of
the attractor mechanism in five dimensions based on the recently developed
classification of BPS solutions. This analysis shows when it is the dipole
charges versus the conserved charges that fix the moduli. It also yields
explicit expressions for the fixed moduli.
