Degree
Degree is the hierarchical classification system that organizes wave patterns by their relative size and timeframe. Elliott identified nine degrees, from the massive Grand Supercycle spanning centuries down to the tiny Subminuette visible on one-minute charts. The nine degrees in order are: Grand Supercycle, Supercycle, Cycle, Primary, Intermediate, Minor, Minute, Minuette, and Subminuette. Each wave at one degree subdivides into waves of the next smaller degree. A Primary degree Wave 3 breaks down into five Intermediate degree waves. Those Intermediate waves each break down into Minor degree waves, and so on. Getting the degree right matters because it tells you how significant a move is in the larger picture. A Wave 2 at Intermediate degree is a buying opportunity within a larger advance. A Wave 2 at Cycle degree might take years to complete. The most common mistake is confusing degrees, like calling a minor pullback a primary correction or treating a subminuette pattern as a reason to take a large position.
You're analyzing the daily chart of Nasdaq and identify a five-wave advance at the Intermediate degree. Zooming into the 4-hour chart, each of those Intermediate waves subdivides into Minor degree waves. Wave 3 at the Intermediate degree contains five clear Minor degree waves, with its own Wave 3 being the strongest push higher.