The Elliott wave theory states that market prices develop in trends. Furthermore, trends alternate between an action (motive) phase and a corrective phase.
This applies on all time scales. Smaller time frames are called fractals. Our wave notations are as follows:
Grand Supercycle I°/a°
Primary 1°or ① / A° or Ⓐ
Minute i° or ⓘ / a° or ⓐ