Co-regulation refers to warm, receptive, and supportive interactions between caregiver and child that provide guidance and modulation of the child's emotions, behaviours, and thoughts. This study identifies basic elements of co-regulation between parents and children in relatively well-functioning interactions. The data material consists of 24 video clips of eight dyadic parent-child relationships (child age = 2-8 years), drawn from the Marte Meo therapeutic method. The video analysis indicates that parental responses to an initiative, negotiation, and parental attunement emerge as basic elements and form part of a complex interplay with each other. The findings further imply that parental attunement represents a key element in defining the quality of the processes of initiation and negotiation between children and adults. The issue of balance between power/responsibility vested in adults and children's right to autonomy during these co-regulative interactions is also discussed. The paper ends with potential avenues for future research.