Three Drives

The Three Drives pattern was originally outlined by Robert Prechter. It's not used often in trading, because it's rare to spot and far less common than other harmonic patterns. It consists of symmetrical price movements with identical Fibonacci projections in a 5-wave structure. The Three Drives pattern is defined by three distinct, consecutive and symmetrical drives to a top or bottom where each drive completes at 1.13, 1.27 or 1.618. Symmetry in both price and time is critical. It's important not to force the pattern on the chart. If it's not really there, the best decision would be not to trade it.

A reversal is likely to happen at the completion of the third drive. Conservative traders look for additional confirmation that price is reversing. Targets can be set at the discretion of the trader but normally extend beyond the last retracement. If the pattern fails, this could point to a strong continuation in the previously dominant direction. The Three Drives pattern can be either bullish or bearish. TradingView has a smart drawing tool that allows users to visually identify this price pattern on a chart.
ZARS ZARS NZDUSD, D, Short ,
NZDUSD: NZD short
11 0 5
NZDUSD, D Short
NZD short

There's a possible bearish three drive pattern before testing our weekly trend line. Looking forward to sell the rejection of our upper channel

Rimvydas Rimvydas USDJPY, 60,
USDJPY: Possible Cypher, Three Drives And Gartley Patterns
70 0 5
USDJPY, 60
Possible Cypher, Three Drives And Gartley Patterns

Potential long opportunity at the completion of the bullish Cypher pattern with in Three Drives and if when followed by Bearish Gartley pattern.

swinger swinger NGAS, 240, Short ,
NGAS: Three Drives
227 0 6
NGAS, 240 Short
Three Drives

look for the red box to short

mrenigma mrenigma NAS100, 60, Short ,
NAS100: Nasdaq ...... several patterns Im watching
32 0 5
NAS100, 60 Short
Nasdaq ...... several patterns Im watching

So this is what I'm looking at here in the Nasdaq this morning. I'm seeing a completed shark with a possible 5-0 that would complete at around 5400 , a 3 drives pattern, and a possible butterfly setup that would take the Nasdaq to new highs..... Lets see what plays out

Technician Technician TOP AUDJPY, 240,
AUDJPY: An example of how to spot a good trade #forex
4020 23 144
AUDJPY, 240
An example of how to spot a good trade #forex

Friends, I haven't had time to post any of my trades in recent days. So i thought i would post some of the trades I took recently. I know this is after fact, but the aim is just to share the knowledge and experience. I made 4 trades, 3 winners and one loser. I will post them throughout the week as i am taking a small rest from markets during the election ...

Technician Technician TOP XAGUSD, D,
XAGUSD: Silver nearing a bottom in the short term?
2607 9 142
XAGUSD, D
Silver nearing a bottom in the short term?

SIlver is about to complete a three drives pattern . The completion of the pattern accompanied by a bullish divergence on RSI indicates a possible rebound in the coming few days to week. However, this is a framework for a trade, and thus wait for a setup over the short term to confirm your trade or a bullish candle.

Invictavis Invictavis EURCAD, D, Short ,
EURCAD: Potential ABCD Pattern on EURCAD (600+ pips)
108 0 3
EURCAD, D Short
Potential ABCD Pattern on EURCAD (600+ pips)

Hey all! It's been a pretty quiet week so far but I've been patiently watching several pairs to see if any plans become more viable. EURCAD is one of these pairs and I was specifically waiting to for it to show signs of a reversal off of the 0.618 retracement. Now that it has done that, we can predict a potential bearish long-term ABCD pattern forming here - ...

LewisGlasgow LewisGlasgow TOP EURUSD, D, Short ,
EURUSD: EUR/USD - Bearish 5-0
1974 25 82
EURUSD, D Short
EUR/USD - Bearish 5-0

Wow this is huge! Today we have EUR/USD on the daily chart with a bearish 5-0 pattern, I'm absolutely loving the look of this setup already! The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 This pattern links in with my previous idea for EUR/USD with a bearish three drives pattern (chart is shown ...

LewisGlasgow LewisGlasgow TOP EURUSD, 240, Long ,
EURUSD: EUR/USD - Three Drives
6323 51 187
EURUSD, 240 Long
EUR/USD - Three Drives

Hello traders, following up from my previous post on EUR/USD with a bullish BAMM setup (chart is shown below), price is now forming a bearish three drives pattern on the 4h chart. https://www.tradingview.com/chart/EURUSD/FMm1K1h1-EUR-USD-Bullish-BAMM/ Price completed the 2nd price drive at 1.23 and we're now beginning the 3rd price drive which I plan to ...

Fx-Nature Fx-Nature EURAUD, D, Short ,
EURAUD: EURAUD- Bearish 3-Drive pattern + Bearish Butterfly
46 0 5
EURAUD, D Short
EURAUD- Bearish 3-Drive pattern + Bearish Butterfly

Entry zone: - 3-Drive pattern - Bearish butterfly pattern - 0.618 retr - Psychological level 1.44 Trade responsibly.

Viggy Viggy BTCUSD, 240, Long ,
BTCUSD: BTCUSD updated - next 10 days
261 5 8
BTCUSD, 240 Long
BTCUSD updated - next 10 days

Given that my breakout scenario from the last chart (to the end of May, linked below) was fulfilled, i felt it necessary to update it for the shorter time frame. The shorter time frames are showing quite a few reasons for concern - negative divergences on RSI and MACD. Three Drives Pattern that I would like to shoutout to @bagofXMR 's chart for detailing ...

SignalSwiss SignalSwiss TOP USDJPY, 60, Short ,
USDJPY: [USDJPY] 3D PATTERN IN DEVELOPMENT?
1417 1 39
USDJPY, 60 Short
[USDJPY] 3D PATTERN IN DEVELOPMENT?

Thank you for your support and trade with care!

Invictavis Invictavis EURUSD, D, Short ,
EURUSD: Potential Bearish 3 Drives Pattern on EURUSD
380 0 11
EURUSD, D Short
Potential Bearish 3 Drives Pattern on EURUSD

Hey all! What we can see here is a potential three drives pattern forming on EURUSD. What tipped me off about this particular pair is the fact that the second drive featured a bullish move that hit the 1.272 retracement of the first drive almost perfectly (indicated by the orange arrow). So what we can expect to see is the third drive to hit the 1.272 retracement ...

bagofXMR bagofXMR BTCUSD, 240, Short ,
BTCUSD: Three Drives Pattern
486 5 14
BTCUSD, 240 Short
Three Drives Pattern

We have completed a three drives pattern, now we should short looking for 61.8% retracement of the whole move up. We have this pattern accompanied by regular bear div in the last three peaks, and a longer term hidden bear div from ATH. So this should be an easy short. We still have a 2 points trendline to break, and for now we lack the necessary volume to do it, ...

LewisGlasgow LewisGlasgow TOP BTCUSD, W, Long ,
BTCUSD: BTC/USD - Bullish 5-0
782 4 39
BTCUSD, W Long
BTC/USD - Bullish 5-0

Hello traders, following up from my three drives post for BTC/USD (chart is shown below), I'm now looking at a potential bullish 5-0 on the weekly timeframe. https://www.tradingview.com/chart/BTCUSD/1Ei0UKFx-BTC-USD-Three-Drives/ If the three drives pattern fails to complete, the bullish 5-0 will be the favoured outcome. The measurements for a valid 5-0 pattern ...

LewisGlasgow LewisGlasgow TOP BTCUSD, D, Short ,
BTCUSD: BTC/USD - Three Drives
1082 2 43
BTCUSD, D Short
BTC/USD - Three Drives

Hello traders, following up from my price structure post for BTC/USD (chart is shown below), I have now spotted a bearish three drives pattern indicating a move to 1600 before the drop. https://www.tradingview.com/chart/BTCUSD/eY1jb4cA-BTC-USD-Price-Structure/ It will be interesting to see how this trade develops over the next several months, it may amount to ...

SignalSwiss SignalSwiss TOP EURUSD, 240,
EURUSD: [EURUSD] DAILY MONITOR
3171 6 75
EURUSD, 240
[EURUSD] DAILY MONITOR

The pair is still in a bullish trend, we have already achieved some targets bullish, but the trend continues to be interesting, and at the moment we do not see signs or reversal pattern. Key reistance at 1.0788 and a potential breakout, would trigger a new bullish momentum. We'll ...

DeanT DeanT UKX, 60, Long ,
UKX: FTSE 100 (1Hr) Bullish ?
31 0 8
UKX, 60 Long
FTSE 100 (1Hr) Bullish ?

This has found some steam. Lets see if they can fill that gap, maybe need 3 drives to close it, or a monster en-golfing candle.

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