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  5. What is the best time frame for a wave count?

What is the best time frame for a wave count?

Elliott Wave analysis works well at any time frame, and so does WaveBasis.

So, the time frame(s) that you use for automatic wave counts is directly dependent on your trading style and objectives. Unfortunately, there is no magic “best” timeframe.

For example, if you like longer term trades (weeks, months, years), then a daily, weekly, or monthly wave count will likely work best for you.

If you prefer faster trades (minutes, hours, or days), then starting with a larger timeframe to define context, and drilling down to smaller timeframes (5, 15, 30, 60 minutes, etc) to refine your analysis will give you the best results.

As noted above, regardless of the timeframe that you choose to define your trade entries and exits, for best results it is recommended that you begin your analysis with a larger timeframe wave count which defines the context for a market. This will help you answer questions like “are we in a long term correction?, or “are we near the top of a long term uptrend?”. Once you have clarity on the larger context, then drill down to smaller time frame(s) as desired, according to your objectives.

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