New! Now enrolling students in our CEWA Exams I, II, and III Prep Courses -- included in the cost of your exams. Register now for the courses -- Live joint Q&A for Exams I & II -- Next live session to be scheduled for August 18.
EWI's Certified Elliott Wave Analyst Program
The Definitive Certification for Elliott Wave Professionals
The CEWA program is the most comprehensive and rigorous assessment process of its kind. It was developed by Elliott Wave International, which is the world’s largest independent technical analysis firm in the world. EWI has a 40+-year history.
CEWA and CEWA-M certifications are the ultimate accreditation of Elliott wave proficiency.
If you represent an institution searching for the top Elliott wave practitioners in the world, look for the CEWA or CEWA-M designation. Banks, pensions and hedge funds know that individuals who earn the CEWA distinction have proven themselves highly skilled in applying the Wave Principle.
If you are an individual interested in certifying your own Elliott wave knowledge or are working as a trader or analyst in the field of technical analysis, CEWA certification is your standard. Earning those four letters after your name may open some doors for you that you thought would never be opened.
Where Did CEWA Come From?
The CEWA story begins over 30 years ago.
In the late 1980s, EWI conducted a series of live, two-day Elliott wave workshops. The sessions taught the basics of the Wave Principle. EWI’s founder Robert Prechter directed the instructors and taught many sessions himself.
Many workshop students requested an advanced tutorial, so EWI began to develop one. Our goal with the tutorial was to require more than parroted definitions. We decided to create a rigorous, true test for applying wave analysis and forecasting. EWI's veteran Dave Allman designed the course in consultation with professional educators and Elliott wave experts whose combined experience totaled some 70 years in nearly 100 financial markets.
The resulting advanced course provided 16 hours of teaching. Several hundred students took the course over the years. Of them, three or four received the "Excelled" ranking – and ultimately, EWI hired two of them as analysts.
In 2012, Allman and Wayne Gorman, co-author of Visual Guide to Elliott Wave Trading, designed a fully automated, online CEWA Exam I. In 2016, we launched the material that became CEWA Exams II and III.
Today's CEWA program is scrupulously vetted: In addition to the original authors' now 120+ years of experience applying the Wave Principle, there’s been feedback from 12 EWI analysts who themselves have earned CEWA designations. These analysts brought an additional 200 years of Elliott wave experience.
Several hundred candidates have taken the exams.
How It Works
We offer the CEWA certification over three focused exams. Candidates MUST pass all three to become CEWA certified and to use the CEWA designation.
- CEWA Exam I (One test, multiple choice - 60 minutes) measures basic, entry-level competence in and understanding of the Elliott Wave Principle. The candidate must have a working knowledge of the definitions and concepts of the Wave Principle. The exam is administered in our online Certification Portal. -- Cost: $300, or $150 per retake.
- CEWA Exam II (Two tests, multiple choice and multiple response – 45 minutes per test) requires deeper knowledge of the Wave Principle. The exam is proctored online by Mercer | Mettl.* -- Cost: $1500; $250 per test per retake. Note: The price includes Exam III.
- CEWA Exam III (Three tests, all of which are chart labeling – 75 minutes per test) measures the ability to apply the Wave Principle to idealized market structures. The exam is proctored online by Mercer | Mettl.* – Cost: $1500; $250 per test per retake. Note: The price includes Exam II.
* To ensure secure, credible results and protect the value of your CEWA certification, CEWA Exams II and III are proctored by Mercer | Mettl, one of the largest online examination proctoring companies in the world.
New! Each Exam Comes with a FREE Prep Course ($600 Total Value)
When you sign up for CEWA Exam I, II or III, you get free access to a detailed prep course to help you pass each exam. The prep course includes a live group Q&A session with a Certified Elliott Wave instructor. The instructor will help answer any questions you or your fellow students may have about the course material or the Wave Principle.
Prep courses of this quality would normally cost at least $200 each. However, we want to make the information as accessible as possible. So, when you purchase the exams, you’ll get the prep courses for no additional cost.
For more details about the prep courses, see the “Exam Process and Prep Courses” tab on the right-hand navigation.
Your 4 Steps to Becoming CEWA-Certified
Enroll in the CEWA program
Register for Exams I, II and III by signing up below or by emailing cewa@elliottwave.com.
Study and Prepare
Complete the prep courses we’ve designed for each exam. Be sure to participate in the live webinars with our CEWA instructors.
Take (and Pass) Your 3 Exams
Take and pass all three exams in order to receive your certification. Exam I is administered in EWI’s certification portal. Exams II and III are proctored online by Mercer Mettl.
Use your CEWA Designation to Your Benefit
Congratulations! You’re now CEWA certified. You’ll receive your certificate in the mail. You can display your CEWA designation on social media and to potential employers and prospective clients.
To become CEWA-certified and use the CEWA designation, you must pass all three exams.
Exam I
You may register for Exam 1 via the link at the bottom of this page or by contacting the CEWA team at cewa@elliottwave.com.
You can take up to one year from the date of registration to prepare for and take the exam (including retakes).
Exam Duration: 60 minutes
Exam Format: Online with multiple-choice, true/false questions
Grading: Pass/Fail (80% required to pass)
Exam fee: $300 ($150 per retake)
The exam fee includes access to the Exam I Prep Course ($200 value). The prep course includes:
- 8 video lessons
- Supplemental text below the videos
- A quiz at the end of each lesson
- A live Q&A session with a certified Elliott Wave instructor (Joint session with Exam I & II students August 18)
You can review the lessons when and as often as you want between when you sign up and when you take your exam. We suggest, however, that you start your Exam I Prep Course as soon as possible so that you finish before the live Q&A.
Exams II and III (Available to candidates who pass Exam 1)
Once you pass Exam I, you are eligible to take Exams II and III. Register by contacting the CEWA team at cewa@elliottwave.com. You must purchase Exams II and III together. You will have one year from your registration date to study for and take both Exams II and III (including retakes).
You can take Exams II and III in whichever order you wish.
Exam II
Exam Duration: 1.5 hours (Once you begin Exam II, you have 72 hours to complete it.)
Test 1: 45 minutes
Test 2: 45 minutes
Exam Format: Online, proctored by Mercer Mettl. Two individual test sections including multiple-choice and multiple response.
Grading: You must score no lower than 80% on any test section, thus achieving an overall score of at least 80%. Those that score 90% or greater on Exams II and III will receive a Masters (CEWA-M) designation.
Exam fee: $1500 (price includes Exam III) ($250 per test per retake)
Your exam fee includes access to the Exam II Prep Course ($200 value). The prep course includes:
- 5 lessons comprising videos and text from key resources
- A live Q&A session with a certified Elliott Wave instructor (Joint session with Exam I & II students August 18)
Again, you can review the lessons when and as often as you want between when you sign up and when you take your exam.
Exam III
Exam Duration: 3.75 hours. (Once you begin Exam III, you have 72 hours to complete it.)
Test 1: 75 minutes
Test 2: 75 minutes
Test 3: 75 minutes
Exam Format: Online, proctored by Mercer Mettl. Three individual test sections, all regarding chart labeling.
Grading: You must score no lower than 80% on any test section, thus achieving an overall score of at least 80%. Those that score 90% or greater on Exams II and III will receive a Masters (CEWA-M) designation.
Exam fee: $1500 (price includes Exam II) ($250 per test per retake)
Your exam fee includes access to the Exam III Prep Course ($200 value). The prep course includes:
- 4 lessons focused on labeling Elliott wave patterns and identifying wave counts
- An interactive chart labelling practice area
- A live Q&A session with a certified Elliott Wave instructor (date TBA)
Again, You can review the lessons when and as often as you want between when you sign up and when you take your exam.
What Happens When You Pass Exams I, II and III?
When you pass ALL THREE exams, you become a Certified Elliott Wave Analyst! You may use the post-nominal letters CEWA and display the CEWA insignia on your printed and online materials. When you pass Exams II and III with a CEWA Master designation, you may use the post-nominal letters CEWA-M and the CEWA-M insignia.
We will send you a signed, personalized CEWA Certificate in the mail. You may elect to have your name (and company name and website, if applicable) displayed on our CEWA Graduates webpage on elliottwave.com. Those who achieve the CEWA Master designation will receive a special Master-level Certificate and can choose to have their information displayed in the CEWA Masters section of the CEWA Graduates webpage.
You may refer employers, clients and the public to the CEWA Graduates webpage for verification.
If you are interested in certifying your Elliott wave knowledge or working as a professional in the field of technical analysis, the CEWA certification is the most comprehensive and rigorous assessment of its kind and is the ultimate accreditation of your proficiency.
Certified Elliott Wave Analyst Candidates are required to sign a Non-Disclosure Agreement, in which they promise to keep all CEWA information confidential.
Furthermore, to maintain the highest integrity of Elliott Wave International, the CEWA designation and its holders, EWI enforces a code of ethics for its Certified Elliott Wave Analyst Program. Any form of misconduct, professional and/or personal, may be considered grounds for Elliott Wave International to revoke CEWA credentials. Further, violations may result in disciplinary sanctions, including but not limited to notifying other professional technical analysis associations and/or legal action.
Register now to join this elite group of CEWA designees.
Register now for CEWA Exam I
- Includes:
- Exam I Prep Course ($200 value) -- Live Q&A August 18
$500
$300
Register now for CEWA Exams I, II & III*
- Includes:
- Two test retakes** ($300-$500 value)
- Exam I Prep Course ($200 value) -- Live Q&A August 18
- Exam II Prep Course ($200 value) -- Live Q&A August 18
- Exam III Prep Course ($200 value) -- Date TBA
$2700 - $2900
$1900
*Your access to Exams II & III opens when you pass Exam I
**If you pass all three exams on the first try (it's rare!), we'll gift you a three-month subscription to a service of your choosing
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