Have been watching the 3 drives pattern playing out in AUDJPY H1. It is likely to complete at 76. RSI shows divergence, so it should be one last move down before a big reversal upwards will take place. Am likely to go long when it hits my target entry price. Stay tuned for my updates!
Have been watching the 3 drives pattern playing out in FX:AUDJPY0.17% H1. It is likely to complete at 76. RSI shows divergence, so it should be one last move down before a big reversal upwards will take place. Am likely to go long when it hits my target entry price. Stay tuned for my updates!
My trade idea on what DXY gonna do in the next months.
EURONEXT:ORA Safe Trades;
Read text written in the chart.
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The three drives pattern is a reversal pattern characterised by a series of higher highs or lower lows that complete at a 127% or 161.8% Fibonacci extension. It can signal that the market is exhausted in its current move and a possible reversal is about to occur on the price chart. The bullish version of the pattern can help to identify possible buy opportunities...
About this pattern - Although it was not specifically identified, one of the first references to a Three Drives Pattern was outlined in Robert Prechter’s book, “Elliot Wave Principle.” He described the general nature of price action that possessed either a three-wave or a five-wave structure. Adapted from this principle, symmetrical price movements that possess...
Check this out! We have the following setting up: Bearish bat pattern AB=CD pattern 3 Drives pattern all of them completing around the 88.6% Fibonacci retracement Best of Trading!
FX:GBPUSD The question is - how fast the price will get there? Safe Trades;
Lets do an analysis on Nifty and how its movement will be in coming days. As we look with Eagle's view ( Daily ), Nifty has been bearish from Feb'15 to Mar'16. For an year Nifty has been completely bearish Trend. Some companies posting good performance results has driven Nifty to current levels from the lows of 6700's. But tats not only reason for recent bull...
Potential three drives pattern. Should be fairly obviously as breakout of previous top occurs. End result being a pullback to around $600
TVC:DXY Inverted with my previous published idea for FX:EURUSD , link below... Wait for rsi overbought condition and divergence: Safe Trades;
This one is counter trend trade with ABCD pattern completion in 1190-1205's zone which is the last support, if broken XAUUSD Gold will fall to next support zone. If the chart is looked in bird's view we can spot Bullish 3 drive pattern getting completion in same zone. I am not expecting too much of bullish run from this idea bcos Fed meeting is within 15 days,...