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Three Drives

$SPY - Definitely bullishNothing really too technical at all I can get into with this one (not a big fan of hourly charts for LT price action) but, @ this point I couldn't see any other pattern but a wedge up / busted bear 3 drives pattern. Currently @ the re-trace so unless anyone sees a break of $268? I'm not sure where everyone else thinks this is going lol. I've seen this setup a number of times ($TRIP, $UA, $M, etc., Intra-day, not hourly) where 180WMA is finally over 789WMA almost like a regime change. Price action after the crossover - great, but not too great for long before it loses almost all of its gains of price since it crossed above 789WMA. Eventually, balances itself back out in a continuation. Long story short, BTFD. Just me tho lol
AMEX:SPYLong
by DerekD_
short term relief rally on EtherETH 4h: I am starting to see a three drives pattern on the 4h chart on the Ether (you can find an example here learn.tradimo.com). If this is indeed a validated Three drives pattern, expect a bounce up to the 61.8% Fibonacci retracement of the whole move lower which is at $543.5 . The trade idea is no longer valid and the stop loss has to be triggered if we trade below $389. No change in my view about a broader decline; if it happens, this is just a relief rally. #notaninvestmentadvice #pleaedoyourownresearch #mypersonalview
COINBASE:ETHUSDLong
by unknownstarrr
Bitcoin's Harmonic JourneyBearish 5 Drives megastructure leading into a Bullish 5 drives up to 8500 to which will fulfill the overall Bearish 5 Drives w a target at around 5.5k. Upon completion of 5.5k retracement OR sideways trending on a strong demand zone, Bitcoin's harmonic may become a Bullish Deep Crab to which will have a target of $10k+. I've been bullish about bitcoin and I'm open to us shattering 8500 and reaching for 10k+ but I'm just reading the chart as it's presented and it's pretty clear what is being presented. The following is astrological and Gann fan related. I am in now way a master of this and while I've witnessed the significant correlations of astrological events w price action and fud and fomo doesn't mean I am an authority on recognizing it. These are data points that I am interested in observing so just understand that's where this part of the analysis comes from. There are different star systems that astrologers use. In the beginning, I used tropical, which is used for Western astrology but I'm favoring and using Sidereal (of the stars) astrology based on observations I've thus far made between tropical and sidereal for bitcoin's price action. Astrological and Gann fan aspects: It's interesting to note that this weekend, there are several planetary bodies (the moon is a planetary body) that are moving into constellations. In astrology, it's significant when a planet enters a constellation/sign and even greater significance when it multiple planets entering a sign/s. 6/8 - Friday - Moon enters Pisces 6/9 - Saturday - Venus enters Cancer - Gann fan cross 6/10 - Sunday - Moon enters Aries 6/10 - Sunday - Mercury enters Gemini Last time we had this many planetary events in a 4 day time period was during Consensus 2018 last month. Next there's June 18th... as in 6/18... (Golden ratio anyone?) and this day is at the apex of the pennant that we are forming from our run up to 20k. Fun fact: Kepler characterized Harmonics Law on May 25th, 1618. Nice timing with that year, Keppler! Also, May 25th is when the Buddha's birthday is celebrated. 6/18--- Neptune Retrograde - I've been trying to understand how different planets could affect price action and I'm afraid I don't have enough experience to talk about Neptune retrograde in that regard. What I can say is that Neptune retrograde is a wake-up call to the delusional fantasizers. The big question is who is delusional; the bears about the price dropping or the bull greedy for the moon? Gann Fan - so in a previous chart I published, about how hype 4/20 is going to this year has a Gann fan apex/wedge/crossing at 4/20. If you press play, bitcoin literally drove right into the wedge, continuing upward. It's not at cleanly depicted in this chart bc scale has things slightly off, but subsequently parallel to the 4/20 apex is a Gann fan apex at 6/18. What does that mean? mmmm, I'm counting on the Bearish 5 Drives harmonic to play out. 6/26 - Mars goes retrograde - This isn't looked as favorable but we shall see how it goes. 7/7 - Mercury enters retrograde zone - This should be daytrading- short term bearish. 7/10 - Jupiter goes direct - bullish. Planet of wealth, abundance, expansiveness goes direct is a good sign. When mercury went direct (4/15) we took off. 5/3 - Mercury left the retrograde zone and that day is associated w one of our double top/highs from the April bull run. We also have a Gann fan cross on 7/10 reinforcing the significance of that day. 7/13 - partial solar eclipse - historically a bullish event. Significance reinforced by a Gann fan crossing. 7/26 - Mercury goes retrograde - Bearish 7/27 to 28 - Total Lunar Eclipse - Bearish I use astrology to find confluence in the story that's being told w price action. I am very much a novice and appreciate you hanging around to read the end. :)
BITFINEX:BTCUSD
by TreeTruffle
4
GBP/USD Bullish Shark Pattern FormingA Bullish Shark Pattern is forming on the daily time frame in a dense Fibonacci confluence zone consisting of the 88.6% retracement measured from 1.3027 to 1.4377 as well as the 61.8% retracement level measured from 1.2589 to 1.4377. Price broke through the Bearish Three Drives Pattern above, and it looks viable at the moment that the breakout level will be re-tested in the days/ weeks to come. Note also the Fibonacci confluence zone in the 1.3700 region, consisting of the 50% retracement level of XA, the 38.2% retracement level from 1.2589 to 1.4377 and finally the 38.2% retracement level of the CD leg. Obviously the 1.3700 level will be crucial in determining the direction of price from there. Trade long (RvR 2:1) Entry: Close above 1.3320 S/L: 1.3124 T/P 1: 1.3483 T/P 2: 1.3712 As always, scale out your profits and adjust stop/loss to suit your risk management profile; also, be careful of shorting the market where price is at currently since we have reached a level of significant support. Happy trading
Long
by AMTrader
USD/JPY Bullish Wolfe Wave and Bullish 3 Drives PatternBullish 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 closes below the initial support trend line formed in 2016, price will only be bearish if it closes below the 106.60/50 level as well as below the Wolfe Wave support trend line. Look to go long again once price reaches the 107.70 level, which is the 61.8% retracement level and target the 113.500/600 level above with stops below 106.80/70. From there, we will have to wait and see if price adheres to the projected Bullish Three Drives Pattern and look for new trade entry opportunities. Happy trading
Long
by AMTrader
3
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 like there's a good chance we could just have some sideway action on that bottom curved line, and fall to $5,000-$4,000 within the next couple months. Please feel free to give your opinion in the comments whether it be criticizing my post or your personal opinion on the matter!
BITFINEX:BTCUSD
by frostyflakeds
GBP/USD Bearish Three Drives Pattern and Bullish ReversalA 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 as just above the yearly pivot point. Thus the 1.3000 level will be crucial in determining if price will reverse from there and continue its bullish path, and this will be determined if price closes above 1.3567. If price gets rejected at 1.3657 expect further decline to the 61.8% Fibo retracement level below, or slightly below it. Between the 1.2850 (61.8%) and 1.2589 level price should find enough support to reverse to the upside. The measured target objective is 1.5104 which is the extension of the initial bullish leg, and would clear the Brexit high. This is a projection and should be used as a road map if and when price reaches the designated levels. Happy trading
Short
by AMTrader
Bitcoin Violent First Pullback from Leg up from LowsExtremely 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 all time highs, there is still more downside to come on the 4H. A bullish three drives pattern visible on the 15min and significant hidden bullish divergence on the 4H indicate to me that we should form a higher low on the 15min and consolidate between $8.9k-$9.3k for some time (potentially up to $9.4k, but I don't believe the market is bullish enough to get there). Getting to the $9.2k-$9.4k region will likely result in significant lower time frame bearish regular and hidden momentum divergences. Breaking new lows with good volume before this would paint a very bearish picture for higher timeframes. The amounts of Bitfinex Bitcoin longs and shorts are significantly bearish .
BITFINEX:BTCUSDShort
by petermh
1