To find the speed and direction of propagation from the wave equation y(x,t)=Aexp{B(x-ct)^2}, the key is to identify the parameters in the equation. The term "c" represents the speed of the wave, while the expression (x-ct) indicates the direction of propagation. The exponential function suggests that the wave's amplitude is modulated by the factor B. Clarification is needed regarding the correct form of the equation, as there appears to be confusion about the exponential notation. Understanding these components is essential for analyzing wave behavior in physics.