Commander in Pips: That is a major problem when you dealing with EW. But do not worry too much. Because, let’s suppose that you trade on hourly chart and you see that 4 waves up were completed. You can calmly expect 5th wave and enter the market with some target. And here it’s not so important – do all that 5 waves is a first wave of weekly pattern or third, or fifth. Because you just want to take profit at the end of 5th wave on hourly chart. That makes trading with EW a bit simpler. Pipruit: Well, probably you’re right. Thanks. Commander in Pips: Since we’re speaking about different levels of cycles, they could be very different: 1. Grand Supercycle; 2. Supercycle; 3. Cycle; 4. Primary; 5. Intermediate; 6. Minor; 7. Minute; 8. Minuette; 9. Sub-Minuette. Pipruit: Ok, ok, let me guess. Grand Supercycles consist of Supecycles, Supercycles consist of Cycles, Cycles consist of Primary cycles and… Commander in Pips: I can’t believe it. You figured it out. Pipruit: Thank you. And when we will see them on real charts? Commander in Pips: As fast as we will need it. Pipruit: I see. And when we will need it? Commander in Pips: Soon. Ok, since you’re in such a hurry, I’ll give you one chart at the end of the current lesson, but before that let’s fast repeat major rules of EW theory, concerning waves: 1. Wave 3 could never be the shortest impulse wave; 2. Wave 2 could never be beyond the start of 1st wave – either on bear or bull market; 3. Wave 4 could never overlap with 1st wave – other words price on wave 4 could not move in the range of first wave.