medium · Elliott Wave Theory
If you are using paired time frames in a 1:4 ratio for analysis, and the daily chart suggests a bullish 'Wave 3' while the weekly chart shows an incomplete 'Wave C' of a larger decline, which interpretation takes precedence?
- Neither; the analyst should wait for a 4-hour chart confirmation of the daily count.
- The daily chart; shorter time frames reflect more recent price action and are more accurate.
- The weekly chart; the daily 'Wave 3' is likely a 'Wave B' bounce within the weekly correction.
- The monthly chart; it is the only way to break the tie between daily and weekly.
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