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Valid Bearish Three drives pattern
Buy FX:USDCAD into potential wave C to complete triple three correction and form a three drives pattern @ 1.3830. Still, might not complete this one as it looks too perfect to materialize :)
Hope to sell here tp at 1.618, buy then to .888 retracement, EMA 150 in 4 hr chart mark here in red is great support, my expectation is to have a bounce down here and complete the 3 Drive,
OK here again, Gold likes Three Drives Pattern.
After my previous 3 Drives pattern (https://www.tradingview.com/chart/XAUUSD/XkV8aA0x-Three-Drives/) works, This might be another 3 Drives pattern. It is really 50-50 where Gold can go now. We can go with either CUP pattern, which it can run to 1172 and possible a run to see 12xx handle or break 1146, go with 3 Drives pattern, and get a chance to see 2016 low again.
"Sell with Resistance" can look like - shooting star, tweezer top, head and shoulders, bearish divergence, etc.
I haven't found much online regarding targets of the pattern once the 3 drives completes. As always, let it go and use your stop system.
It is at the final stage of 3 Drives pattern, which is up, up and away stage. Gold has been favor this pattern quite a lot, let's see if this works again. First TP 1147.55 and Next 1157.11, those 2 are the clone levels.
Short Sl 53.25
Text book Three Drive Pattern
Read text written on the chart.
The market is moving in a upward wedge and it faces the choice where to go next.
The Three Drives Pattern will complete at 784 level and the 1.618EXT of previous drop is at 780 level.
Meanwhile the upward trendline also works at this zone.
So it may be good to sell short at 780-784 levels when price action gives signals at the PRZ.
TP2:730 and ...
Read text written in the chart.
Conservative target is 81.768
Below 80.5 bottom falls out
Hey traders, looking at the GBPAUD here for a potential bullish advanced bat formation. In very similar fashion to the EURJPY trade from a few days ago, this started off as a simple look at the market putting in equal measured moves combined with fibonacci ratio confluence & then morphed into a potential advanced pattern formation as I looked a little closer.
Appears to be a 3-drive forming here. 4HR closed on a pinbar and we have some bearish divergence up in this ma' trucker. Waiting to see what the market does the next couple days! Looking at the daily view price is still respecting the 50% fib level on the painfully slow correction that has been happening since the bearish impulse wave January of this year! If ...
Long EUR/GBP Three Drives Pattern + Uptrendline
The bearish Three Drives pattern is completing at about 0.744 levels.
Meanwhile the RSI has been divergent already.
So it may be good to sell at 0.744-0.745 levels when price action gives the signal in the PRZ.
TP2:0.737 and further more