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Question Of The Week - Archive |
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| June 5, 2006 |
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| Question: |
How much detail (i.e., how many monowaves) should a chart contain?
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| Answer:
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It is a common mistake by wave practioners to attempt analysis using a daily chart covering years and years. Accurate analysis requires attention to detail. The more detail a chart contains (that is, the more monowaves present), the more difficult detailed analysis becomes.
For accurate wave analysis, you want to limit the complexity visible on a chart to between a Fibonacci 34 and 89 monowaves, with the ideal being around 55. Charts that contain 100`s of monowaves will cause one to miss the subtleties required for good analysis and charts with less than 34 monowaves may not contain enough information for a reliable conclusion.
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