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Three Drives

Bitcoin - Goldilocks and The Three BearsThe number one thing to understand about what's about to happen is this: Bitcoin is not bullish. Bitcoin is not bullish, but price is going to go up. It goes up for the same reason that the knife on a guillotine goes up before it drops and severs heads. You shouldn't have faith in cryptocurrency. Whatever brought it to this world, it is not what it once was. If you were around during the 2016 bubble, you would understand the dirty things that happened in the sphere and what the installation of CBOE/CME regulated futures meant for the market. In short, crypto was given the gift of being embraced and having a hand extended to it before it ultimately is extinguished. There are many asset classes that actually have real world use and real world value. There is silver, gold, oil, natural gas, forex, stocks, bonds, ETFs... why waste your time "HODLing" a fantasy that exists only in the minds of people who don't and can't hold functioning jobs, people who aren't respectable and contributing members of society. Digital currency has a lot of drug running, human trafficking, and mob connections to it. Much of it is also connected to the Chinese Communist Party, and if you don't do your part to do something about the Red Scourge of Chinese Communism, you'll find yourself in an unbearably cold winter that you cannot endure and have no hope of redemption from. Regardless, Bitcoin never sees $12,000 again. Where the real bullseye is is under the $3,500 double bottom, but it won't get there in a straight line. You will be given many dips to buy and many false moons to buy the top on. If you can get long around $10,500 again, then excellent, but I wouldn't count on it for much of what is about to happen is designed to injure short sellers, especially those who didn't take profits at $9,800 and $10,200 and are waiting for the big short to pay off so they can brag to their friends. What's hard about getting long anywhere else is where do you put your stop? On the way to $11,600 there's going to be more than one shattered floor wick meant to help you "manage your risk". Never forget: Bitcoin is not gold. Bitcoin is even less valuable and useful than iron pyrite. Make sure you dump your spot bags before regret torments your heart.
BITMEX:BTCUSD.PLong
by LordWrymouth
2
GBPJPY Long - Trade entry explained from recent post We are updating the bullish trade idea we posted on GBPJPY on the 9th September 2020, price came right to this level and started to bounce higher. As we mentioned in the original post, if price dropped to this level we wanted to go down to our lower time frames and look for additional confirmation for a bullish trading opportunity which occurred nicely. As you can see from the 15 Minute chart we have zoomed in on the price action to see more detail and how we would look to enter the trade by being patient and waiting for price show us it could move higher. We saw two bullish price patterns form right at the level, the first one being a bullish 3 drive pattern and right after that a bullish reversal head & shoulders followed. Once the 3 drive pattern completed right at the level we posted previously about, we drew an inner diagonal trend line in pink and waited for this to break as our means for execution in the hope that price would rise. Once we entered the trade our stop loss would go just below the 3rd and final drive low protecting you from having the need for a larger one. On the upside price has already made an intraday high around the 136.23 level allowing a possible 50 pips to manage a profitable trade or giving you the ability for a percentage scale out depending on your trading style.
by DavidVillagra
11
Three Drives Harmonic Chart PatternThe three drivers chart pattern is a well known harmonic chart pattern that acts as a trend reversal. The pattern consists of either three higher highs or lower lows which is an indication of a potential trend reversal. There are two different types of three drives pattern: Bullish Bearish Bullish Three Drives Pattern There are three different waves in the pattern as the name suggests, three drives. With the subsequent drives, there are lower lows that are being formulated in the pattern with three different bottoms. Once the third wave is completed and the low point has been observed, a buy signal can be created with formulating the Fibonacci levels and generating the buy signal with a Fibonacci extension of 1.27 or 1.628. For the stop-loss and take profit levels, you can formulate a new Fibonacci level with the start and end of the pattern and keep 161.8% as the stop-loss level and 61.8% as the take profit level. The important point that confirms the drives is a similar time period between the uptrend after the 1st wave and 2nd wave also a similar time period between the 2nd wane and 3rd wave for the downtrend. The bearish three drives pattern is completely opposite of the bullish three dives pattern and can be spotted in a similar manner. The three drives pattern belongs to the family of harmonic patterns and thus makes use of not just chart patterns but also technical retracement levels to validate the pattern. A three-drive pattern that does not meet the retracement criteria can be discarded. The pattern is therefore qualitative as well as quantitative in nature. ---------------------------------------------------------------------------------------- If you find the post useful, please like and share our ideas with the community! - Mudrex
COINBASE:BTCUSDEducation
by Mudrex
5
CADCHF a long opportunity targeting the PRZWe spotted a long trade opportunity where we plan stop and reverse for the analysis we published earlier Like and comment if you find value in our analysis. Feel free to post your ideas and questions at the comments section. Good luck NOTES: - All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol. - We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade. - Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won't help your progress to be a better trader. - Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style. Best Regards.
Long
by FXTurkey
3