Semilog

Semilog
Scaling method. With semilog, the distance between each point of a chart is exponential. Semilog scaling is used to compare relative price changes rather than physical point changes.

Semilog: Scaling method.
Sensitivity: The rate of change of the moving average in response to the movement of the underlying data.
Serial Correlation: The systematic relationship between successive observation of a time series.

The 5th wave should come close to the upper channel line before ending up. It's advisable that semilog charts be employed along with arithmetic charts for the depicting of channel lines on long-lasting trends.

See also: Resistance, Short, Stock, Trends, Indicators