Well, we’re glad you asked because we just happen to have a great example right here!
That’s the way an Elliott wave practitioner describes that part of an impulse wave where the market is simply going vertical. That’s a great thing if you’re on the right side of it and it’s a bad thing if you’re on the wrong side of it. (Trust me on that!)
Here’s a picture in the Nasdaq from our Pro Services Stocks Intraday Services.
Update: 3/23/22 1:03pm
Here’s another timely example of third-of-third waves at multiple degrees. This time in Cardano from our Crypto Pro Service…
03/18/22 12:30 PM ET (Last Price 0.85): Trend remains up from 0.75. Within that context but at rather short term very small wave degree as long as 0.82 nearby structural support remains intact, the existing preferred wave interpretation firmly favors price “going up a whole bunch real fast”, doing so in a robustly third-of-third fashion at four wave degrees of significance.. Said another wave, that’s a bevy of coiling one-two’s poised to be unleashed with rather impressive impulsive buying pressure… if 0.82 structural support earns respect very near term. – Al Graham for Jim Martens
Chart from 03/23/22 2:07 PM ET:
Cardano has moved from 85 cents to almost $1.09. Now that’s third-of-a-third action. Every wave trader’s dream.
Your Next Step: Read how to spot thirds-of-thirds on your charts. It’s all in Section 1.1 of Elliott Wave Principle. And it’s free.