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Three Drives

The Three Drives pattern was originally outlined by Robert Prechter. It is not used often in trading, because it is 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 is important not to force the pattern on the chart. If it is 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.
Technician Technician TOP AUDCAD, 120, Long ,
3783 23 116
AUDCAD, 120 Long
Trade 25: Long AUDCAD #FOREX

I have Bought AUDCAD for a quick short term trade, within the context of the recent sideways range. The price has also completed a three drives pattern at horizontal support. While FISHER indicator is oversold. Long at: 0.9972 -- T1 : 1.0018-- T2:1.0070 ---- SL: 0.9946 ..... Risk for this trade is only 1.5% of capital. For more details and all Stats ...

Trading_Jazz Trading_Jazz PRO GBPUSD, W, Short ,
GBPUSD: (Weekly) Major and lower degree Structure & Advanced Patterns
473 1 16
(Weekly) Major and lower degree Structure & Advanced Patterns

FX:GBPUSD Safe Trades;

hopscotch hopscotch HEZ2017, D,
HEZ2017: Lean Hogs 3 Drives
11 0 2
HEZ2017, D
Lean Hogs 3 Drives

December Lean Hog maybe moving into a 3 drives pattern. RSI trend is up and hasn't been broken. Hog index is now at 60.92. We may see sideways trading now until a definite direction is decided. Watching for trendlines to fail top or bottom. New pivots will be formed middle of next week producing a small range of resistance and support.

avoryhoward avoryhoward PRO EURNOK, 240, Short ,
EURNOK: Bat w/ 3 drives short opportunity
45 0 2
EURNOK, 240 Short
Bat w/ 3 drives short opportunity

Alternate Bat pattern completion point 9.43120 converging with a 3 drives pattern Take profit target #1 9.35100 Take profit target #2 9.30200 Stop loss 9.38500

Korastiz Korastiz PRO STRUSDT*1000, 60,
STRUSDT*1000: STR/USD Bullish 3-Drives
74 2 2
STRUSDT*1000, 60
STR/USD Bullish 3-Drives

This is very speculative and way too early to know, but this a possible idea for STR/USD over the next 30 hours. It also could just complete a AB=CD pattern - I will update when I can as the pattern follows or doesn't follow this. Values have been multiplied by 1000 so divide by 1000 to get the correct price. The pattern will complete at Point C where it will then ...

Trading_Jazz Trading_Jazz PRO ORA, 60, Short ,
ORA: (1h) French Orange SA - Bearish 3Drives Pattern
210 0 17
ORA, 60 Short
(1h) French Orange SA - Bearish 3Drives Pattern


zeelorenc zeelorenc PRO LSKBTC, 240, Long ,
LSKBTC: bullish pendant on lisk
373 0 6
LSKBTC, 240 Long
bullish pendant on lisk

Lorenzo from ONEX Capital here Bullish pendant plus we could assume a 2nd impulse wave for LISK. A lot of good news leading up to the end of November. Keep your eyes on this coin Rapid Growing Cryptocurrency Trading Discord :

hopscotch hopscotch XKX2017, D, Short ,
XKX2017: Soybean Following Uptrend Bullish Butterfly
22 0 4
XKX2017, D Short
Soybean Following Uptrend Bullish Butterfly

November Soybean is following an uptrend. Although today was bearish and probably the next two days next week, we should see another round of buying. Soybeans got hit on the USDA report so not too sure how high this will go. This may be a simple three drives pattern and double top rejection. R1 becomes resistance. Trendline becomes support. Next downside target is ...

avoryhoward avoryhoward PRO CADCHF, 60, Short ,
CADCHF: Possible short opportunity
44 0 2
CADCHF, 60 Short
Possible short opportunity

*3 drives pattern with 2.0 extension points indicate a possible short along side the MA 8 MA 20 MA 25 as resistance Take profit target #1 .78600 Take profit target #2 .78000 Stop loss .79350 Please comment if any contradicting information

avoryhoward avoryhoward PRO AUDCAD, 240, Short ,
AUDCAD: 3 drives pattern possible short
19 0 2
AUDCAD, 240 Short
3 drives pattern possible short

3 drives pattern along with MA 8 MA 20 MA 25 as resistance indicate a possible short opportunity Take profit target #1 .96650 Take profit target #2 .96250 Stop loss .97650

avoryhoward avoryhoward PRO CADCHF, 240, Short ,
CADCHF: Bearish 3 drives pattern indicate short
64 0 2
CADCHF, 240 Short
Bearish 3 drives pattern indicate short

1.618 3 drives pattern completed at point .79160 towards the top of the rising wedge Trade execution at the breakdown of MA 8 Take profit target #1 .77800 Take profit target #2 .77000 Stop loss .79200

ChuaYunRong ChuaYunRong GBPUSD, 240, Short ,
GBPUSD: GBP/USD constant downwards pressure
114 0 6
GBPUSD, 240 Short
GBP/USD constant downwards pressure

an in-symmetrical 3 drives pattern has formed from the previous rally , and from here we can see the second major support at 1.28135 broken from yesterday's session, reaching below the 1.28 handle and confirming a trend reversal from highs of 1.32. i'm currently looking for a retracement back to the 1.28484 - 1.29183 area for a long-term short position towards ...

KyleMcQuade KyleMcQuade PRO EURAUD, 240, Short ,
181 0 5
EURAUD, 240 Short

After closing me previous EURAUD short, I have taken another position, but yet to post analysis (it may not be too late to enter!) This pair is showing us a 3-drive pattern, where most would look to go long after the 3rd drive completion. However, as stated in the previous AUDUSD and Silver trades, we here at Six Figure Capital look to trade the third drive. ...

bas70seven bas70seven EURAUD, D,
140 0 6

Potential 3-drives pattern. There is still an unfilled gap in the 1.428 area... I'll keep an eye on the H1 and M15 charts for a SHORT entry...

IvanMadrazo IvanMadrazo AUDJPY, 240, Short ,
AUDJPY: 3drive At least
44 0 4
AUDJPY, 240 Short
3drive At least

Entered to early. Now im shorting again

IvanMadrazo IvanMadrazo GOLD, D, Short ,
GOLD: 3drives Channel subchannel pullback to channel Sell
77 0 3
GOLD, D Short
3drives Channel subchannel pullback to channel Sell

Time to sell

KyleMcQuade KyleMcQuade PRO XAGUSD, 240, Short ,
XAGUSD: Silver/USD Short
136 0 4
XAGUSD, 240 Short
Silver/USD Short

Here on the 4 hour chart we have what some would see as a bullish 3-drive pattern. However, in recent times, I have had more success trading the third wave (as suggested by my friend @LewisGlasgow). In this pattern the first retracement hit the 0.618 level, thus I will look for the second to do the same at the top of the channel. Should price hit the zone, I will ...

LewisGlasgow LewisGlasgow PRO XAGUSD, 240, Short ,
XAGUSD: XAG/USD - Three Drives
2471 24 71
XAGUSD, 240 Short
XAG/USD - Three Drives

Hello traders :) I'm back with a market insight on XAG/USD. Price seems to be forming a valid bullish three drives pattern and I plan to capitalise on its premature formation. Price completed the 2nd price drive at 15.18 and we may be starting the 3rd price drive once we confirm the 0.618 retracement level. You will need to pay close attention to price action ...

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