kopparam
Short

xauusd, 240,Three drives pattern

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
161 0 6
taken short on completion of the third wave ................targeting 61.8 retracement from the start of the pattern to the completion point of the pattern.

harmonic three drives pattern

the three drives pattern is a reversal pattern designed to highlight times when the market is exhausted in its current move.

… the pattern has a bullish version and a bearish version.

… the pattern is composed of three waves or drives that complete at a 127% or 161.8% Fibonacci extension

.....the trade is entered in the opposite direction to the overall move, when the third drive is completed at a 127% or 161.8% Fibonacci extension .

… the stop loss goes below the 161.8% Fibonacci extension for a buy and above the 161.8% Fibonacci extension for a sell.

… draw a new Fibonacci retracement from the start of the pattern to the completion point of the pattern and take profit at the point where price will have retraced 61.8% of that distance.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out