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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.
hopscotch hopscotch LEZ2018, 1D, Short ,
LEZ2018: December Live Cattle Bearish Cypher
23 0 1
LEZ2018, 1D Short
December Live Cattle Bearish Cypher

New pivots for Live Cattle. Now projecting Bearish Cypher. Cattle was in a three drives pattern and the fall today may signal further downside to S2 at 106.475. Cattle made pivot today at 111.050. First target is uptrend line at 109.050. Cattle is under the 20 day MA.

ronfkingswanson ronfkingswanson BTCUSD, 240, Short ,
BTCUSD: Rinse, Wash, Repeat: the fractal road to 8K
103550 226 944
BTCUSD, 240 Short
Rinse, Wash, Repeat: the fractal road to 8K

(see related ideas below) Called the 17.2K bulltrap when folks were expecting to unload bags at 18-19K. Called the 9K low on the second selloff, when folks were clamoring for even more blood. Now we're repeating the same rebound, retrace, and collapse cycle on this pitchfork. This rally should get stuck under the old yellow triangle bottom, so no more than 14K. ...

AMTrader AMTrader USDJPY, 1D, Long ,
USDJPY: USD/JPY Bullish Wolfe Wave and Bullish 3 Drives Pattern
279 3 5
USDJPY, 1D Long
USD/JPY Bullish Wolfe Wave and Bullish 3 Drives Pattern

Bullish Wolfe Wave pattern with a projected Bullish Three Drives Pattern could potentially - if realized - finally break heavy resistance at the 115.600 level. For the moment a bearish a correction looks very likely - look at my previous post with a bearish White Swan Pattern on the 4 hour time frame - as a Doji was formed on Friday. Even if price breaks and ...

Trading_Jazz Trading_Jazz GBPUSD, W, Short ,
GBPUSD: (Weekly) Major and lower degree Structure & Advanced Patterns
1168 1 28
GBPUSD, W Short
(Weekly) Major and lower degree Structure & Advanced Patterns

FX:GBPUSD https://www.tradingview.com/chart/EURUSD/ECb5Dl2T-Crab-Pattern-Engagement-Rules-Educational/FX:GBPUSD https://www.tradingview.com/chart/EURUSD/23Jop8vm-Cypher-Pattern-Engagement-Rules-Educational/ https://www.tradingview.com/chart/EURUSD/T3D391Dj-The-Three-Drives-Pattern-Educational/ Safe Trades;

AMTrader AMTrader GBPUSD, 1W, Short ,
GBPUSD: GBP/USD Bearish Three Drives Pattern and Bullish Reversal
210 0 4
GBPUSD, 1W Short
GBP/USD Bearish Three Drives Pattern and Bullish Reversal

A three drives pattern for GBP/USD, illustrating future price action. At the moment, GBP/USD is obviously quite oversold and last weeks Doji formation on the weekly time frame was most likely a signal for a bullish correction move. Price formed a double top above and the projected measured objective of the double top reaches just beyond the 50% level, as well ...

petermh petermh BTCUSD-0.00013511, 15, Short ,
BTCUSD-0.00013511: Bitcoin Violent First Pullback from Leg up from Lows
150 1 5
BTCUSD-0.00013511, 15 Short
Bitcoin Violent First Pullback from Leg up from Lows

Extremely violent price action indicates that we have more downside on the 4H and, on higher timeframes, that there is significant likelihood that the move from the lows was a bull trap. Whether we ultimately move to fill the gap from the short squeeze and/or form an equilibrium pattern, complete an ABC correction from the $9.76k highs, or move to new lows since ...

IAmSatoshi IAmSatoshi ETHBTC, D,
ETHBTC: Multi-Year 3 Drives Could Bring $ETH to 0.5 in 2018
10699 9 51
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

frostyflakeds frostyflakeds BTCUSD, 240,
BTCUSD: I like curves.. Noobie messing around. >:)
56 0 0
BTCUSD, 240
I like curves.. Noobie messing around. >:)

Greetings everyone! I hope you're all having fantastic trading luck recently with all these random opportunities popping up all over the boards! I'm no specialist with TA and frankly I don't know how much of it is legit, but it's fun to mess around with charts and see what you can find. I personally am going to stick buying below or right around $8,000. I feel ...

cryptolambo cryptolambo NANOBTC, 1D, Long ,
NANOBTC: NANO Three Drives
87 0 0
NANOBTC, 1D Long
NANO Three Drives

Three Drives pattern for BINANCE:NANOBTC. Sell Target in Red Box before correction. Happy Trading!

brettfb brettfb PPTBTC, 60,
PPTBTC: PPT Descending Wedge / Possible Three Drives?
136 0 2
PPTBTC, 60
PPT Descending Wedge / Possible Three Drives?

It looks like PPT might be in a descending wedge and possible three drives pattern. I don't know much about harmonics so please excuse my ignorance in this matter. This is definitely not investment advice! I just want to see how it turns out. I'd buy at 0.00214 with a stop at 0.00200, and look to sell at 0.00240. This is just a guess.

McbmMM McbmMM XAUUSD, 1D,
XAUUSD: Gold:Sideway trend ...
84 0 1
XAUUSD, 1D
Gold:Sideway trend ...

We got our major structure levels. And if we looking for pattern a nice Little 3 drives. Nothing else to see. Just a boring sideway trend.

WellTrainedMonkey WellTrainedMonkey COP, 240, Short ,
COP: COP: Potential 240M 3-Drive completion
40 0 0
COP, 240 Short
COP: Potential 240M 3-Drive completion

Time for some mean reversion play. COP is the sore thumb sticking out amongst the oil plays with the stock making new highs post Feb crash. With results coming up and WTI completing its own 3-Drive formation as the pipes out of the Permian get clogged, it would be a good idea to put on some downside directional trade on COP. Given the out performance vs. the ...

Forex_Troll Forex_Troll USDJPY, 60, Short ,
USDJPY: Potential Bearish Three-Drive Pattern
214 0 4
USDJPY, 60 Short
Potential Bearish Three-Drive Pattern

Potential Three-Drive Pattern forming

Ambipath Ambipath USOIL, 1D, Short ,
USOIL: Three Drives Up On USOIL Daily
331 2 6
USOIL, 1D Short
Three Drives Up On USOIL Daily

If price closes in a pinbar today, I will enter this trade. Seems like a good confluence of signals: top of the channel, oscillators overbought, pinbar forming.

WallStScalper WallStScalper LTCEUR, 30, Long ,
LTCEUR: 3 drive to a bottom
123 0 2
LTCEUR, 30 Long
3 drive to a bottom

3 drive to a bottom ...and a positive divergens on RSI should give us a smaller bounce here. Happy trading!

WallStScalper WallStScalper LTCEUR, 30, Long ,
LTCEUR: 3 drive to a bottom
122 2 2
LTCEUR, 30 Long
3 drive to a bottom

Three drive to a bottom ....And positive divergens on RSI should give u a bounce here. Happy trading!

NiftyKingPro NiftyKingPro NIFTY, 240, Long ,
NIFTY: The Three Drives Pattern? Possible Nifty Outcome
149 1 2
NIFTY, 240 Long
The Three Drives Pattern? Possible Nifty Outcome

Chart says it all Best of luck

TreeTruffle TreeTruffle BTCUSD, 15, Short ,
BTCUSD: Bearish 3 Drives Harmonic on the 15 min
143 0 3
BTCUSD, 15 Short
Bearish 3 Drives Harmonic on the 15 min

Well, let's see how this goes. it lines up.

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