count which is also linked to monthly chart. Furthermore, the monthly chart Elliott
wave count is also dependent on the yearly
chart Elliott wave count.
Consequently, one must validate the hourly wave count on the daily, then validate
the daily chart wave count on the monthly chart and monthly chart wave count on
the yearly chart.
The minimum Elliott wave count validation should take into consideration the first
higher degree wave count.
The minimum hourly chart wave count validation will take into consideration the
daily chart waves count. If one is counting waves on the daily chart, one must use
the monthly chart Elliott wave
The Elliott wave count is dynamic. It is also positively correlated to the higher degree
waves count. A day trader that is counting waves on the five-minute chart, will use
the 2H chart as the first higher degree time frame to validate the 5M chart waves
count. The next higher degree time frame for the 2h chart is the 2
Similarly, an Elliott trader that is counting waves on the 2h or 4h chart will use the
weekly chart as the first higher degree Elliott wave time frame. One will check the
quarterly chart to validate the weekly
chart Elliott wave analysis.
Understand that there is a wider Elliott wave cycle that is under-way. Indeed, that wider
Elliott wave cycle subdivides into mini Elliott wave cycles on various lower time frames.
In reality, the higher degree Elliott wave cycle is gradually expanding from one lower
time frame to the next until it becomes wider on the higher degree. For example, one
may see first the completion of an Elliott wave cycle on the 3M chart, then another cycle
on the hourly chart, daily, monthly and finally the bigger cycle is completed on the yearly
For an Elliott wave analyst, it is crucial to understand or spot the correlation between a
specific Elliott wave count, and the next
higher degree Elliott wave count.
Quite often, an Elliott trader will misinterpret a price structure on one time frame just
because he or she has failed to connect that time frame to the corresponding higher time
In fact it is impossible to apply the Elliott wave theory by adopting a single viewpoint.
The best approach is always the one that takes into consideration multiple viewpoints
or higher degree Elliott wave
One ought also to understand that the Elliott wave patterns are predictive fractal patterns.
For example the structure of a motive wave on the five minute chart can duplicate itself
on a higher degree time frame. The inverse is also true when a specific Elliott wave
structure on the higher degree Elliott wave count time frame duplicates itself on the lower
degree time frames.
In fact, there is no valid Elliott wave count on its own. The higher degree waves count
helps to validate the lower degree waves count and
To find the exact higher degree time frame for a lower time frame one must use the ratio
one to twenty-two.
For example, to get the correct higher degree Elliott wave time frame for the five minute
chart, one will multiply five by 22.
Therefore, it is 110 minute chart the exact higher degree time frame. However, instead of
the 110 minute chart, one can use 2H or 120M chart for a more practical approach. For the
same reasons, one will use the yearly chart for the monthly chart Elliott wave validation
instead of 22 months.
Higher Degree Waves Count Test
1/ What is a higher degree Elliott wave count?
2/ Why one should use a higher degree Elliott wave count strategy to validate Elliott
3/ Practically speaking what is the first higher degree time frame for the daily chart?
4/ Practically speaking what is the first higher degree time frame for the 4H chart?
5/ Practically speaking what is the first higher degree time frame for the weekly chart?
6/ How one calculates the exact higher degree time frame for a lower time frame?
7/ Describe an example of Elliott wave validation.
8/ What is a preliminary Elliott wave count?
9/ An Elliott wave count is a valid Elliott wave count on its own. Yes or No?
10/ It is OK to count waves one time frame alone and use that. Yes or No?
11/ The Elliott wave count on one time frame is always linked to the higher degree
Elliott wave count. Yes or No?
12/ What does it mean if one says that the Elliott wave patterns are fractal patterns?
13/ What is a predictive fractal pattern?
14/ What is the difference between a predictive fractal pattern, and normal candlestick
or price-action fractals.
15/ What should one be aware of if the third Elliott wave of the yearly chart has a long
shadow at the top of it at the time when one is validating the monthly chart Elliott
16/ What should one be aware of if the third bearish Elliott wave of the yearly chart has
a long tail at the bottom of it at the time when one is validating the monthly chart
Elliott wave count?
14/ One should subscribe to the 24elliottwaves YouTube channel or website to learn free
Elliott wave strategies that help. Yes or No?
15/ There is only one higher degree Elliott wave time frame. No or No?
16/ The lower degree waves count will also help one to clarify price structures on a higher
degree. Yes or Yes?
17/ What should one do if the Elliott count after all does not make sense?
18/ Truly, one should only focus on the higher degree Elliott wave count, and ignore the
lower degree. No or No?
19/ The higher degree Elliott wave count strategy is an exact science instead of a guide
to forecast the financial markets. No or No?
20/ One should abandon trying to master the Elliott wave validation on the higher degree
time frames if it does not help as expected. It is a waste of time and one should not work
on it at
Correct or wrong?
21/ One should always bear in mind that a bigger Elliott cycle is always under-way.
Yes or Yes?
22/ One is checking the higher degree wave count to see the bigger picture.
Yes or Yes?
23/ What is an Elliott wave cycle?
24/ To learn for free how to become a fully functional Elliott wave trader, it is helpful
to subscribe to the 24elliottwaves YouTube
channel or website. Yes or Yes?
25/ Another way to validate Elliott wave count is to use multiple view points by
comparing one's Elliott wave count to others' after one has completed one's validation
using the higher degree Elliott wave count strategy. Yes or Yes?