The patterns link to form five and three-wave structures which themselves underlie self-similar wave structures of increasing size or higher degree. Note the lower most of the three idealized cycles. In the first small five-wave sequence, waves 1, 3 and 5 are motive, while waves 2 and 4 are corrective. This signals that the movement of the wave one degree higher is upward. It also signals the start of the first small three-wave corrective sequence. After the initial five waves up and three waves down, the sequence begins again and the self-similar fractal geometry begins to unfold according to the five and three-wave structure which it underlies one degree higher. The completed motive pattern includes 89 waves, followed by a completed corrective pattern of 55 waves.
Each degree of a pattern in a financial market has a name. Practitioners use symbols for each wave to indicate both function and degree—numbers for motive waves, letters for corrective waves (shown in the highest of the three idealized series of wave structures or degrees). Degrees are relative; they are defined by form, not by absolute size or duration. Waves of the same degree may be of very different size and/or duration.
The classification of a wave at any particular degree can vary, though practitioners generally agree on the standard order of degrees (approximate durations given):
- Grand supercycle: multi-century
- Supercycle: multi-decade (about 40–70 years)
- Cycle: one year to several years (or even several decades under an Elliott Extension)
- Primary: a few months to a couple of years
- Intermediate: weeks to months
- Minor: weeks
- Minute: days
- Minuette: hours
- Subminuette: minutes
Read more about this topic: Elliott Wave Principle
Other articles related to "degree, degrees":
... to a programme at the advanced level, a student must have obtained a 3-year Swedish degree at the basic level or a corresponding degree from another country ... The degrees that can be obtained at the advanced level are Degree of Master (One year) (magisterexamen), 1 year, 60 higher education credits Degree of Master (Two years) (masterexamen), 2 years, 120 ... The Degree of Master (Two years), masterexamen, is a new degree that is intended to be closely linked to continuing education at the graduate level ...
... Stanislaus 3rd degree, 1900 Order of St ... Anne 3rd degree 1904 Order of St ... Stanislaus 2nd degree, 1906 Order of St ...
... In his candidate for presidency statement Kwaśniewski declared that he had graduated university studies ... Actually he had never written his master thesis, nor passed the university final exams and therefore had no master degree ...
... High School Graduation Rate Bachelor's Degree or More Filipinos 90.8% 47.9% Indians 90.2% 67.9% Bangladeshis 84.5% 41.9% Pakistanis 87.4% 60.9% Chinese 80.8% 50.2% Japanese 93.4% 43.7 ... all Asian American adults have at least a college degree, Vietnamese Americans have a degree attainment rate of only 16% while Laotians and Cambodians only have rates around 5% ... ethnic groups, 48% of Asian Americans have attained at least a bachelor's degree as compared with the national average of 27%, and 29% for non-Hispanic Whites ...
... He advanced to first degree black belt (shodan) rank in three months, fourth degree (yondan) ranking in two years, and sixth degree (rokudan) in fourteen years ...
Famous quotes containing the word degree:
“But in every constitution some large degree of animal vigor is necessary as material foundation for the higher qualities of the art.”
—Ralph Waldo Emerson (18031882)
“Some crimes get honor and renown by being committed with more pomp, by a greater number, and in a higher degree of wickedness than others. Hence it is that public robberies, plunderings, and sackings have been looked upon as excellencies and noble achievements, and the seizing of whole countries, however unjustly and barbarously, is dignified with the glorious name of gaining conquests.”
—François, Duc De La Rochefoucauld (16131680)
“His poor, crazy, deformed body was a mere Pandoras box, containing all the physical ills that ever afflicted humanity. This, perhaps, whetted the edge of his satire, and may in some degree excuse it.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (16941773)