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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.
IAmSatoshi IAmSatoshi PRO ETHBTC, D,
ETHBTC: Multi-Year 3 Drives Could Bring $ETH to 0.5 in 2018
4203 9 42
ETHBTC, D
Multi-Year 3 Drives Could Bring $ETH to 0.5 in 2018

A lot needs to happen both technically and fundamentally for this to happen as described. The idea is likely wrong, but nevertheless worth keeping in mind through 2018. @VentureCoinist had a similar chart https://pbs.twimg.com/media/DQ6Es8RW0AAD3tV.jpg

hopscotch hopscotch PRO SMH2018, D, Long ,
SMH2018: Soybean Meal Bearish Bat Three Drives
26 0 1
SMH2018, D Long
Soybean Meal Bearish Bat Three Drives

March Soybean Meal fell off of a Bearish Butterfly last week. Possibly entering a three drives bullish pattern. Soybean Meal and Beans have been operating on sales alone for bullish moves. Has reached bullish support for volume. Next downside target is Pivot at 326.6

elidar elidar BTCUSD, 240,
BTCUSD: BTC/USD Bitcoin H4
1315 0 5
BTCUSD, 240
BTC/USD Bitcoin H4

probable price drop to 10,470

Technician Technician TOP EURUSD, 240, Long ,
EURUSD: EURUSD: May complete 3rd wave higher
2913 11 108
EURUSD, 240 Long
EURUSD: May complete 3rd wave higher

Every EURUSD dip was re-bought. The price could be heading to complete the third wave of a potential three drives pattern as illustrated on chart. Buying this for the short term. Will be watching if we reach potential reversal zone around 1.1920-1.1930. Best Technician

Technician Technician TOP XAUUSD, 120, Short ,
XAUUSD: GOLD quick short setup
3586 8 102
XAUUSD, 120 Short
GOLD quick short setup

Looking for an hourly candlestick rejection as a final confirmation to short GOLD for a quick bearish reversal. The price has completed a three drives pattern at the previously broken support and potential resistance now around 1264 Best Technician

Technician Technician TOP NZDCAD, D, Long ,
NZDCAD: NZDCAD: Confluence!
3311 10 108
NZDCAD, D Long
NZDCAD: Confluence!

Confluence of : 1- Prior swing low and support level 2- Three drives pattern 3- RSI bullish divergence 4- Rejection candle Best Technician

TheFoil TheFoil XEMUSD, 30, Long ,
XEMUSD: XEM/USD long trend ahead
246 0 3
XEMUSD, 30 Long
XEM/USD long trend ahead

Even though we recently learn about China is moving for a cryptoban, XEM* is already well implemented in the east and should provide a growth in the month to come. The recent down is probably due to the uncertainty related to Catapult and China Cryptoban rather than about the fundamentals of XEM* The demand has a steady growth but could be slowed by a lack of ...

fxtaghi fxtaghi EURUSD, 240,
EURUSD: ab=cd  &.....
157 0 7
EURUSD, 240
ab=cd &.....

selllllllll

NikitaZ NikitaZ NTGUSD, 60,
NTGUSD: NatGasUSD possible three dives pattern
44 0 1
NTGUSD, 60
NatGasUSD possible three dives pattern

If the pattern continues correctly, you can buy and sell near the signals.

hopscotch hopscotch PRO D6F2018, D, Long ,
D6F2018: Canadian Dollar Triple bottom
40 0 1
D6F2018, D Long
Canadian Dollar Triple bottom

Canadian dollar should have moved up on gap down on USD, but pressure on CAD has left it stagnate. The H&S called for in Dec contract on USD appears to be delivering. Neckline at 92.58. Looking for a double bottom at 91.50. CAD ??? We may conclude that a bullish flat was created today on CAD. What overnight will bring we will see tomorrow.

corganmusic corganmusic GBPAUD, 240,
GBPAUD: GBPAUD huggge Bat 1w, and 3 Drives Pattern! 4hr
165 0 7
GBPAUD, 240
GBPAUD huggge Bat 1w, and 3 Drives Pattern! 4hr

--------------Bat-------------------------- Starting with the weekly and zooming in, you will see a consistent uptrend that forms a Bat Pattern starting at May 23rd (This is not visible) It has the valid measurements between A = .382 - .5 B = .382 - .886 C = 1.618 -2.618 X to D = .886 --------------3 Drives-------------- The chart illustrates a Bearish 3 ...

elidar elidar BTCUSD, D,
BTCUSD: BTC/USD
154 0 1
BTCUSD, D
BTC/USD

If the formation is confirmed, the price will fall to 8,000 $

foxwavetrading foxwavetrading AMG, D, Short ,
AMG: Three Drives
18 0 2
AMG, D Short
Three Drives

Looking for a reversal here.

NathanAB NathanAB PRO ADABTC, D, Long ,
ADABTC: [ADA/BTC] - They see me flaggin, they hatin
997 0 12
ADABTC, D Long
[ADA/BTC] - They see me flaggin, they hatin

Cardano has been on an absolute tear the last month, exhibiting the flag patterns we've seen across many alts over that time. It's currently breaking out of the last flag but the question is whether it forms a three-drives pattern and drops or continues flagging. I've set two targets here that represent the case for each scenario - 5k for another flag and 4.3k ...

macfustela macfustela IOTUSD, 30,
IOTUSD: #TradeSense
212 1 3
IOTUSD, 30
#TradeSense

Three Drives Pattern. My idea Upadated.

IvanMadrazo IvanMadrazo GOLD, 240, Long ,
GOLD: The golden highway
424 2 4
GOLD, 240 Long
The golden highway

Possible 3 drives pattern at weeklytimeframe. Confluence of small abcd + divergence an 0.618 confluence + channel trendline Expecting NFP results to go long

LewisGlasgow LewisGlasgow PRO STRBTC, 60, Long ,
STRBTC: Stellar - Pressure is Building
11204 92 130
STRBTC, 60 Long
Stellar - Pressure is Building

Hello traders, following up from my price structure post for STR/BTC (chart is shown below), I have now spotted a bearish three drives pattern indicating a move up to 3670. https://www.tradingview.com/chart/STRBTC/Ei6WtiOD-Stellar-Where-Have-We-Seen-This-Before/ Price completed the 2nd price drive at 1.56 and we're now in the middle of the 3rd price drive which ...

TacoHorsen TacoHorsen REQBTC, 30, Long ,
REQBTC: Third drive starting, buy now
246 3 4
REQBTC, 30 Long
Third drive starting, buy now

This is a typical three drives pattern forming, next drive will pass 7000 sat

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