See the "Most Powerful Wave Pattern" Unfold in Real Time

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See the "Most Powerful Wave Pattern" Unfold in Real Time
The Asian-Pacific Short Term Update forecasted a "potential massive third-wave rally" at multiple degrees of trend

By Nathaniel Williams
Thu, 07 Jun 2012 12:30:00 ET

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A tool is only as good as the person who uses it … and EWI analyst Chris Carolan has been using wave analysis for decades. He knows that the Elliott Wave Principle not only works -- it can empower you to identify and time major market trends.

Here's a recent example from Asian-Pacific markets: In a May 14 special video update, Carolan alerted subscribers to EWI's Asian-Pacific Short Term Update about a potential major move in Russia's ruble.

Carolan observed a third of a third of a third wave forming. "The chart really shows the dollar strengthening versus the ruble," Carolan told his subscribers in the video. "On all degrees, we're setting up for a potential massive third-wave rally in the dollar versus the ruble."

To followers of Elliott Wave, Carolan's observation was highly significant. Third waves are powerful impulsive patterns even at one degree of trend. Now, Carolan was describing a third wave at multiple degrees of trend. Prechter and Frost's Wall Street classic Elliott Wave Principle describes the pattern this way (emphasis added):

"Third waves are wonders to behold. They are strong and broad, and the trend is unmistakable. Third waves usually generate the greatest volume and price movement and are most often the extended wave in a series. It follows, of course, that the third wave of a third wave, and so on, will be the most volatile point of strength in any wave sequence."

In other words, a third wave at multiple degrees of trend is explosive.

Did Carolan's forecast for a "potential massive third-wave rally" pan out? In a word, yes. Just 21 days later, the dollar versus the ruble surged up by more than 12%, as you can see in the chart below.

As Carolan told his readers in the June 4 Asian-Pacific Short Term Update, "The ruble has given us a textbook example of the Elliott Wave Principle’s most powerful wave pattern unfolding in real time."

Of course, like every other form of financial forecasting, the Wave Principle is about probabilities, not certainties. But with this clear example, you can see how practical and actionable Elliott wave analysis can be for your trading.

The Asian-Pacific Short Term Update puts the same Wave Principle to work for you three times per week in all of Asia's major markets. Equip yourself to ride the trends in Asia with help from a seasoned technical analyst, completely risk-free.

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Where are Asian-Pacific Markets Headed Now?

Find out what Elliott wave analysis and technical indicators are pointing to right now with The Asian-Pacific Short Term Update.

You get timely analysis loaded with charts and an unbiased perspective on all of the Asia-Pacific's major indexes three times per week. You'll also get occasional succinct video updates that deliver actionable opportunities and lessons to subscribers, just like this one.

Plus, your risk-free subscription includes FREE access to Chris Carolan's 49-minute online trading course, "3 Technical Indicators to Help You Ride the Elliott Wave Trend." ($49 value)

Learn More about The Asian-Pacific Short Term Update >>

Tags: Asian-Pacific Short Term Update, Chris Carolan, Elliott Wave trading, technical analysis

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The Elliott Wave Principle is a detailed description of how financial markets behave. The description reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific Elliott wave patterns in price movements. Each pattern has implications regarding the position of the market within its overall progression, past, present and future. The purpose of Elliott Wave International’s market-oriented publications is to outline the progress of markets in terms of the Wave Principle and to educate interested parties in the successful application of the Wave Principle. While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will Elliott Wave International make specific recommendations for any specific person, and at no time may a reader, caller or viewer be justified in inferring that any such advice is intended. Investing carries risk of losses, and trading futures or options is especially risky because these instruments are highly leveraged, and traders can lose more than their initial margin funds. Information provided by Elliott Wave International is expressed in good faith, but it is not guaranteed. The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities. Please ask your broker or your advisor to explain all risks to you before making any trading and investing decisions.