# 4.51 Waves Within an Elliott Wave

Do you remember the pineapple, broccoli and peacock feather patterns we showed as ‘fractals’ in the introduction to Elliott Wave Theory? And do you also recall we had mentioned in passing that Elliott waves are also fractals?

Well, now you are in a position to understand what we were leading up to. In the picture see how each wave is made up of sub-waves, observing the ‘self-similarity’ feature of fractals. So each wave is itself made up of smaller waves, and this repeats itself – waves within waves.

Elliott has made it easy for us to understand the sequence of waves inside waves by creating a structure that places different levels of waves hierarchically:

• Grand Super-cycle
• Super-cycle
• Cycle
• Primary
• Intermediate
• Minor
• Minute
• Minuette
• Sub-Minuette

Starting top down, one contains the other – example the Grand Super-cycle is made up of Super-cycle waves, the Super-cycle is made up of Cycles…and so on.

You take an yearly chart and you may find Elliott waves in it. Now pick one Elliott wave and check the monthly chart for it and you may find more Elliott wave patterns within it. Keep on going to shorter-term charts i.e. to weekly, daily 4-hourly and why not to 1-minute chart, and you will keep on finding Elliott waves within Elliott waves.
OK, so much for theory and more theory. Let’s show you some real-life Fore charts with the all the waves and stuff!

The above chart is a GBP/USD monthly chart with an Elliott wave pattern which lasted close to 5 years. Now let's pick up a weekly chart for that duration i.e. year 2002 to 2007. Here you go.

Do you see that within that one Elliott wave pattern on the monthly chart, the weekly chart comes up with more smaller patterns. The Fractals!

Now let's see one more example of a daily chart with two Elliott wave patterns:

The same chart is shown below with some additional details of additional waves, within the primary Elliott wave:

Why do we stop here! Let's have a look on the same chart once again:

In the above charts of the GBP/USD, you can see how prices made the typical 5-3 pattern. The upward green lines indicate the 5-wave impulse move, while the red lines below the chart show the following corrective move i.e. the counter-trend 3-wave move. The blue and red lines above the price chart show the mini waves within the main waves.

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