What is Mono Wave? How to identify it?

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Mono wave is a term used in Neo Wave analysis. As we all know that Neo Wave is the filtered version of Elliott Wave analysis. It is the most objective approach to identify waves and patterns.

Lets not jump on patterns for the moment and first identify monowave (m). A wave pattern which changes price direction is known as (m). For example:

The wave in the box is a mono wave as it changed the direction. The first downfall and the second downfall in the above chart can also be termed as a (m).

There are more versions of (m). A (m) can move up or down in a straight line or cannot move up in a straight line. A decisive change in price direction will give a clear picture of (m). For example:



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