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Question of the Week: 2/6/2006

How much detail (i.e., how many monowaves) should a chart contain?

Answer:

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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