Question of the Week: 6/5/2022
During national holidays, financial markets are often closed. As a result, the number of bars for such weeks are less than 5. In those situations, do we use the next Monday's data to complete the 5-bar high/low Wave plot OR do we simply plot the high and low of the actual week, even though it is missing a day?
When a week is missing a day (due to holiday or other reason), just locate the highest and lowest points of the week (between Monday and Friday), plot them in the order they occurred - still placing them equidistant apart - then connect each plot with a straight line. Never try to "make up for lost time" by adding future days, weeks or months to a plot. The same applies to intra-day plotting. When a holiday occurs, do not leave a blank space on your chart but simply connect the last active day to the new active day with no missing space between them.
Click here to view NEoWave's Question Of The Week archive