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Three Drives

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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.
LewisGlasgow LewisGlasgow PRO BTCUSD, 240, Long ,
BTCUSD: Bitcoin - Three Drives
8093 27 108
BTCUSD, 240 Long
Bitcoin - Three Drives

Hello traders, due to numerous requests for the future direction of Bitcoin here is my current view for BTC/USD on the 4h chart. I'm expecting a similar move to the one we experienced 2 months ago (chart is shown below). https://www.tradingview.com/chart/BTCUSD/1Ei0UKFx-BTC-USD-Three-Drives/ The prediction above was used as an indication of future price ...

Trading_Jazz Trading_Jazz PRO BTCUSD, 240,
BTCUSD: (4h) Addicted at 618 // Eventual 3Drives Pattern
1373 3 37
BTCUSD, 240
(4h) Addicted at 618 // Eventual 3Drives Pattern

BITSTAMP:BTCUSD https://www.tradingview.com/chart/EURUSD/T3D391Dj-The-Three-Drives-Pattern-Educational/ Safe Trades;

Technician Technician PRO AUDUSD, D,
AUDUSD: AUDUSD On my radar as it reaches potential reversal zone #forex
3048 28 126
AUDUSD, D
AUDUSD On my radar as it reaches potential reversal zone #forex

Watching few pairs closely next week for potential trades, one of them is the AUDUSD as the price forms a bearish three drives pattern(symmetrical waves). The potential reversal zone of the three drives is also near the main long term falling trend line. Slightly above that there is a cluster of horizontal resistance area. Finally, there is a clear bearish ...

IvanMadrazo IvanMadrazo AUDJPY, 240, Short ,
AUDJPY: 3D LOVER
52 2 3
AUDJPY, 240 Short
3D LOVER

Wait for reversal in lower timeframes.

IvanBonilla IvanBonilla PRO XAGUSD, 480, Long ,
XAGUSD: 3 Drive Pattern
251 0 4
XAGUSD, 480 Long
3 Drive Pattern

Idea is to fill this 3 Drive pattern for a bullish long term entry. Potential confirmation is a pullback around $16.65 (give or take $.05) Bull entry should be placed $14 (giver or take $.15)

antimattero antimattero BTCUSD, 240,
BTCUSD: 3DRiver
161 2 6
BTCUSD, 240
3DRiver

3DRiver, Accum/Dist, not too much to see

VivaciousVV VivaciousVV XAGUSD, W, Short ,
XAGUSD: Three drives to the bottom in SILVER (XAGUSD)
137 1 4
XAGUSD, W Short
Three drives to the bottom in SILVER (XAGUSD)

The end of the 5 waves down that started in 2011 seem eminent. The ABCD target from 2016 top 13.155 with the first 2 legs been completed - the last leg looks like to be a three drives down pattern. The ABCD target from the top is 11.69 Shoot up to my friend WallStScalper for the ABCD ...

wolfstreetswinger wolfstreetswinger AAOI, D, Long ,
AAOI: aaoi - three drives
117 2 4
AAOI, D Long
aaoi - three drives

opened long postion at 50%fib looking for one more up with three drives possibility of dip to 61.8 retrace

cr3zp0139 cr3zp0139 CHFJPY, 30,
CHFJPY: CHFJPY/30m/Butterly and 3d Pattern
26 0 3
CHFJPY, 30
CHFJPY/30m/Butterly and 3d Pattern

May be like that,,

As_Is_Here As_Is_Here XAUUSD, D, Short ,
XAUUSD: NOT A LOT UPSIDE FOR GOLD'S BULLS!BEARISH 3 DRIVE PATTERN!
405 0 15
XAUUSD, D Short
NOT A LOT UPSIDE FOR GOLD'S BULLS!BEARISH 3 DRIVE PATTERN!

As we correctly predict the rising triangle broke upwards and hit the projected targets as mention at the previous article attached below. The question is what Gold 1.05% is going to do now? The current price action is bullish but with bearish signs. First of all the triangle did not broke with high volume .Second sign is the RSI divergence that it is obvious. ...

compago compago PRO XRPBTC, 15,
XRPBTC: XRP 4-Step 4-Drive Patterns
399 0 10
XRPBTC, 15
XRP 4-Step 4-Drive Patterns

Notes on graphic, currently there's an indicator convergence at price. Big Fan of the 4-Drive analysis and Pivots

SignalSwiss SignalSwiss PRO EURUSD, 60, Short ,
EURUSD: [EURUSD] SIMPLE SETUP IN DEVELOPMENT (3D)
5970 21 148
EURUSD, 60 Short
[EURUSD] SIMPLE SETUP IN DEVELOPMENT (3D)

Same strategy published earlier (see chart below), we go looking for a SELL OPPORTUNITY on the second bearish leg. Here, we see a potential bearish 3D PATTERN in development, but the risk of trading it, is very high, so we look forward to seeing the completion of the first bearish leg (if it will happen), before take short position on the second Leg. The trend is ...

LewisGlasgow LewisGlasgow PRO STRBTC, 60, Long ,
STRBTC: Stellar - Pressure is Building
11000 91 128
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 ...

the_Architect the_Architect USDCAD, D, Short ,
USDCAD: usdcad, first short and then long !!!
39 0 6
USDCAD, D Short
usdcad, first short and then long !!!

Next week plan If it will be the case of a three drive pattern, lets short the usdcad until 0.382 level @ 1.34410 and then long for 1.414 fib level around 1.402.

Akil_Stokes Akil_Stokes PRO DXY, D, Long ,
DXY: DXY: Just Some Random Analysis
307 0 10
DXY, D Long
DXY: Just Some Random Analysis

In my opinion, finding a good trading opportunity is like a detective gathers clues and seeing what they all add up to. There are lots of tools that we can use in our technical analysis, but in my opinion no single one is great. Rather it's the combination of those tools & tactics that allow us to dial down on the best areas in the markets.

awais6669 awais6669 EURUSD, D, Short ,
EURUSD: EURUSD: Bearish three-dive and bearish bat pattern
133 0 7
EURUSD, D Short
EURUSD: Bearish three-dive and bearish bat pattern

EURUSD This is a good opportunity to short EURUSD for long term. Follow me for more signals or PM me for exact entry, stop and target, good luck!

hanrian hanrian XAUUSD, D, Long ,
XAUUSD: XAU/USD create Bullish Three Drives Pattern in D1
79 0 7
XAUUSD, D Long
XAU/USD create Bullish Three Drives Pattern in D1

My view XAU/USD Bullish Three Drives Pattern in time frame D1. But if you want buy look in time frame H4 where position to good OP buy, look in my related idea XAU/USD below. Thanks

derekvela derekvela EURGBP, 240, Short ,
EURGBP: 3 drives, bearish bat, bearish channel
24 0 4
EURGBP, 240 Short
3 drives, bearish bat, bearish channel

3 drives pattern, bearish bat pattern all in confluence in a bearish channel.

123456...Show More Ideas
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