Dr. Elder divides the time frame with factors 5 to 6. The monthly time frame becomes 4.5 weeks (weekly), the weekly time frame becomes 5-day (1 week, 5-day active market), and the daily time frame becomes 5 to 6-hour. For daily traders, the hourly time frame becomes a 10-minute frame (the division factor = 6), and the 10-minute time frame becomes a 2-minute frame (the division factor = 5). The strategy to open and close the trades is based on the smallest time frame. So if you want to decide in a weekly time frame (in this case 4.5-week time frame), you must monitor the monthly time frame. If you use a 10-minute time frame, you must also consider the hourly time frame.