This study investigated the specificity of dream content and its continuity with waking life. For each subject (125 men and 125 women, between the ages of 19 and 29 years), a dream and a waking episode were collected according to “the most recent dream” method (Hartmann, Elkin, & Garg, 1991), which was also applied to “a recent life episode.” Both kinds of narratives were analyzed through the application of the Hall‐Van de Castle System (1966) and a typical content analysis (a compendium of the most important typical dream taxonomies). In dreams, typical situations involved the dreamer trying to perform some physical action, most frequently with difficulties in mastering the task. Affective relationships and hostile interactions with an enemy were shared by both narratives, but cognitive activities were uncommon in both cases.