Technician

The Amazing Three Drives Pattern

FX:CADCHF   Canadian Dollar/Swiss Franc
1852 3 40
The Three Drives patterns is one of the most powerful patterns i have encountered.
:
Bearish Three Drives pattern .
1) First wave is a normal bearish wave, then followed by correction
2) second wave is another bearish wave that extends beyond the first wave low and reach the 1.27 Fibonacci extension for the first pullback(AB on chart)
3)Then the most important wave is the third wave, which extends beyond the second wave low. At this point you should be ready to monitor the price around the 1.27 extension for the second pullback wave(CD on chart).
it is called the PRZ(Potential Reversal Zone). Expect an upside rebound at this area.

If you add a confirmation tool like the hammer candlestick pattern at the PRZ of three drives you increase your chances even further.
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Best Regards,
Technician
My trading channel https://telegram.me/technician_forex_trades
moneymaking
a year ago
Hey mate, beautiful illustration of the 3 drive pattern. Thank you for sharing, as always :)
Reply
Technician TOP moneymaking
a year ago
Welcome mate. :D
Reply
Piet.Hein
a year ago
very nice educational chart, very instructive, and I need to complement that your site is very useful. Thanks for all the information.
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