Fractal Waves are waves where with MAP Wave counting each wave contains 5 waves within it, which in turn contain 5 within each of them, which in turn contain 5 within each of them, of which each wave is one of 5 waves of increasing amplitude.
So in the example below we can see the same low to high, firstly on a yearly interval in orange, then on a quarterly interval we can see that one wave actually has 5 smaller red waves, and again when we go to the monthly interval we can see that each red wave contains 5 purple waves (12Nov14).
Below we have a bottom to top which is pretty obvious. This is on the Y early tick scale.
On the Q uarterly tick within the same bottom and top now we can see 5 waves.
Changing to a M onthly tick scale below again we can see 5 waves within those we saw on the Q uarterly tick above. However we cannot see 5 down waves on this tick scale. The reason is discussed in peoples behaviour elsewhere.
This in principle is what is known as the fractal structure of waves, or waves within waves.
Note that the waves do not form a nice uniform pattern. The reason is due to the summation of amplitude at the time that the waves meet. See sine waves. The other point to note is that the wave intensity increases with every bigger fractal wave scale you go to. This is important to understand when devising an investment strategy.
Each Fractal wave scale is approximately half the size of the next bigger one.