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[Oluti]

As we mentioned previously, Elliott waves are fractals, with each wave being made up of lots of smaller versions of itself. For example, in the picture below, waves 1,3, and 5 are made up of a smaller 5-wave impulse pattern while Waves 2 and 4 are made up of .


So, it’s worth keeping in mind that each wave is made up of smaller wave patterns, and this pattern repeats itself forever. In order to be able to label these waves easily, Elliott assigned a series of categories for the waves, arranged in order of the largest going down to the smallest, namely:

Grand Supercycle (biggest wave)
Supercycle
Cycle
Primary
Intermediate
Minor
Minute
Minuette
Sub-Minuette (smallest wave)

So, a Grand Supercycle is made up of Supercycle waves, this is made up of Cycle waves, and so on until you get down to Minuette waves which are made up of Sub-Minuette waves.

As you might expect, real-world price action charts are never as tidy as the theoretical diagrams that are used to describe them, and this makes it much harder to spot an Elliott Wave in real life. Harder, yes, but not impossible, as we can see in the following chart:


So, while you can see the difficulties inherent in labelling waves that aren’t shaped perfectly like the diagrams we’ve been looking at previously, you can hopefully also see that the theory does – in this case at least – seem to hold up quite well if you make allowances for this.

In the next couple of instalments, we’ll be looking at ways to help you identify waves correctly with relative ease, and show you how to trade forex using Elliott Waves.

 

[lioralace]

Alright, let’s get real about Elliott Waves and Forex charts—no sugarcoating, just trader-to-trader honesty here.

First off, I gotta say, you nailed the whole fractal thing—waves inside waves, and then more waves, just when you think you’ve mapped them all out, boom, another set pops up. It’s like wave-ception. To me, that’s actually the part that fries most people’s brains at the start. You see all these fancy terms like “Supercycle” and “Sub-Minuette” and you’re just… supposed to magically spot those on a chart that looks like a toddler scribbled on it during a sugar high? Good luck, right?

But, jokes aside, there’s something cool about it. Once your eyes adjust, you almost stop looking for “setups” and start seeing the market’s heartbeat. Sometimes you’re staring at some ugly, chaotic price mess and then—wait, that’s a 3, and hey look, there’s a sneaky little 5 right before it! Not gonna lie, it feels a bit like decoding the Matrix.

But oh man, don’t get me started on those textbook diagrams. You know the ones: “perfect” five up, three down, everything lined up neat and tidy, like a freshly-made bed. News flash: real forex isn’t hotel-room clean. Fed drops a surprise, liquidity vanishes, sentiment gets wild—half the time, your “impulse wave” suddenly looks more like a flat tire. Nothing against the theory, but you need to leave your inner perfectionist at the door.

Now, once you stop flailing and start recognizing the rhythm, it really does flip your thinking. Like, instead of panicking every time price pulls back, you’re like, “Chill, it’s just a wave 2—let’s see what happens next.” Suddenly, you’re not the emotional trader getting wrecked by every retrace. You’re out here anticipating, not just reacting. For me, that was a game changer.

Oh, and on the hierarchy thing: context is EVERYTHING. A “big” move on a 5-min chart is a blip on daily. Don’t get caught treating a Sub-Minuette squiggle like the Second Coming of Bitcoin. Zoom in, zoom out—stitch it all together. If you’re seeing the same story across timeframes? Now you’re cooking.

Honestly, can’t wait for your next pieces, especially when you get into real chart stuff. That’s what folks need—less theory, more “I’m actually in a trade, what now?” Stuff like stops at invalidation, targets using Fibs, getting your head around “ending” patterns—it’s messy but that’s where traders separate from chart artists.

End of the day, Elliott Wave isn’t psychic mumbo-jumbo, and it won’t give you lotto numbers. But it gives you a way to chill out and swim with the current instead of paddling upstream like a maniac. Embrace the structure, accept the chaos, don’t force the label when you’re not sure—it’ll save you some headaches.

Anyway, keep posting these deep-dives. No more dry summaries—this is the good stuff. If you ever want to do a full-on blog series or collab, count me in. The more honest, messy, and practical the advice, the better.