XRP 4-Step 4-Drive PatternsNotes on graphic, currently there's an indicator convergence at price. Big Fan of the 4-Drive analysis and Pivots
Three Drives
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.
[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 bullish, but from these levels we can not absolutely think about taking long positions! (better stay flat)
Thank you for your support and trade with care!
Stellar - Pressure is BuildingHello 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.
Price completed the 2nd price drive at 1.56 and we're now in the middle of the 3rd price drive which I am currently capitalising on.
As shown below price is currently consolidating between 2900 and the trendline, the maximum length of time we can stay in this area is 3 days.
A clear break and close above 2900 will see price heading towards the high at 3100, from there we will analyse further for a move up to 3670.
I don't expect to short this pattern, this is just additional analysis to back up the price move to 5000.
Thank you all for your continued support, feel free to connect with me on social media :)
Don't forget to join the Stellar Telegram group: @StellarLumens
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.
EURUSD - Short OpportunityThe Forex market never ceases to amaze me. Price floats like a butterfly but stings like a bee if one doesn't apply an edge with a solid risk management method.
The chart speaks for itself...
I am short bias, although a break and test to the upside of 1.1000 will present a long opportunity. You have to be quick like the jaguar in order to reap the rewards of price movement.
IGNORE THE FEAR!
Rodrigo Antonio
XAU/USD create Bullish Three Drives Pattern in D1My 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
3 drives, bearish bat, bearish channel3 drives pattern, bearish bat pattern all in confluence in a bearish channel.
EURUSD short position! Daily time frame. In this chart we gave a look at the eurusd. After the election in France of Macron the euro may be stronger but the conflict with Angela Merkel will be hard for France. France will accept deflation wages and a correction of accounting.
On the chart we see a 3drive pattern, the target area si 1.7130 and yes we're already in this trade.
AUDUSD Long - 3D retracement/counter-trend3 Drive on Daily; The last few legs have been 786 retracements of previous leg.
Price action currently at Bullish Trend Line and Previous structure and Support confluence.
beginning possible Harmonic move to 786 target of previous leg
and HNS on 1H TF , possible trend reversal on lower time frames.
If rules are met, will go long for 50p (1R) for Target 1
BTC/USD - Three DrivesHello traders, following up from my price structure post for BTC/USD (chart is shown below), I have now spotted a bearish three drives pattern indicating a move to 1600 before the drop.
It will be interesting to see how this trade develops over the next several months, it may amount to nothing or one hell of an opportunity... We'll soon find out!
Connect with me below for more training inspiration :)
[AUDUSD] BULLISH 3D PATTERN IN DEVELOPMENT - Trend is bearish here, but the pair has reached all of our bearish targets. On H4 we see a potential 3D PATTERN (bullish) that could develop an interesting technical rebound.
Thank you for your support and trade with care!
AUDUSD AB=CD to 3-DriveHere we have a symmetrical AB=CD on the aussie-dollar. You are able to trade ab=cd's on their own, some may go long here. However, i'm not a fan. Due to the set up of this channel, I will wait for the 0.786 retracement, then, rather than waiting for the 3rd drive to complete, I will short the 3rd drive as it reaches the top of the channel.
Combining technical analysis with fundamentals: going into next week we are expecting a stronger dollar; tonight aussie exports have been announced and they are slightly higher than expected, rising by 9.4% rather than the forecasted 8.0%. Exports bringing money into the country and adding to the trade balance, this may be enough to strengthen the aussie between now and next week to the extent where it reaches the top of the channel before the short.
AB=CD patterns should be as symmetrical as possible- we can see here that both waves equal 52 bars, 2 days and 4 hours exactly. Taking a trend line from A to C, a 0.786 retracement touching the channel would be a marvellous entry. Trading is never as straightforward- I doubt it will hit exactly where i'd like, but i'll roll with it and see where it takes us.
My short TP will be in line with point D of the AB=CD, with a stop loss just above the previous high.
AB=CD Ratios in addition to symmetry
C: 0.618-0.786
D: 1.272-0.618
3-Drive ratios in addition to symmetry
Retracements: 0.618-8.272
Extensions: 1.272-1.618
3 drives pattern on the EURUSD Daily a bearish 3 drives pattern seems to be completing today which also converges with the .786 retracement of the prior major swing
AUD/CAD - Three DrivesHello traders, here we have AUD/CAD on the daily chart with a potential bearish three drives pattern.
I'd like to thank Six Figure Capital student www.tradingview.com for spotting this setup.
Price completed the 2nd price drive at the 1.272 extension and we're now completing the 3rd price drive around 1.06000.
You will need to pay close attention to price action and candlestick formations in that area for the perfect entry point.
The pattern is not as symmetrical as I would like it to be, however, I won't ignore this setup as each point forms at a key level in the market.
This is a great trading opportunity with over 1:4 risk to reward.
Thank you all for your continued support, don't forget to add me on social media :)
Possible Cypher, Three Drives And Gartley PatternsPotential long opportunity at the completion of the bullish Cypher pattern with in Three Drives and if when followed by Bearish Gartley pattern.
EUR.USD Bearish 3-DriveOpportunity for a near term buy:
-Third leg of 3-Drive
Opportunity for a longer term sell:
-Completion of the Bearish 3-Drive is a STRONG sell signal.
Potential Bearish 3 Drives Pattern on EURUSDHey all! What we can see here is a potential three drives pattern forming on EURUSD. What tipped me off about this particular pair is the fact that the second drive featured a bullish move that hit the 1.272 retracement of the first drive almost perfectly (indicated by the orange arrow). So what we can expect to see is the third drive to hit the 1.272 retracement of the second drive - as per the definition of the 3 drives pattern. I've been expecting this pattern ever since the price hit the 1.09071 mark, and the drop in price from the 27th of March onward has given me more confidence to pursue this potential idea.
You can try and catch the third drive up with a very aggressive entry but the structure always has a chance to change on a dime - especially given the dollar's recent unpredictability. The more conservative play would be to wait until the price hits 1.09791 and then signs of a retracement. Another reason to stick to the conservative play would be the fact that the price might even hit the 1.618 retracement (unlikely but not unheard of) and then come down to about the 1.06342 level.
Conservative Setup:
Entry: 1.09585
TP: 1.05874
SL: 1.09796
Aggressive Setup:
Entry: 1.06844
TP: 1.09763
SL: 1.06369
Always take the necessary precautions when trading! Good luck!
Potential ABCD Pattern on EURCAD (600+ pips)Hey all! It's been a pretty quiet week so far but I've been patiently watching several pairs to see if any plans become more viable. EURCAD is one of these pairs and I was specifically waiting to for it to show signs of a reversal off of the 0.618 retracement. Now that it has done that, we can predict a potential bearish long-term ABCD pattern forming here - assuming that the D leg goes to completion. If this happens, we can also predict that the price will hit the 1.272 retracement at the 1.47540 mark sometime in late May 2017 then come back down to any of the 3 fib retracement levels (Drawn in red and based on the A-D leg) in Early June. I'm also expecting minor consolidation on both the bullish and bearish drives between the 1.42993 and 1.43491 price levels that may end up determining which target is most likely to be hit.
As we've seen in previous ABCD and 3-drive patterns, trading the C-D leg is very risky and I wouldn't really advise it. This is more of a proof of concept should the idea materialize.
In any case, we have two plays for both the risky and conservative traders:
Aggressive Setup
Entry: 1.41698
TP: 1.47586
SL: .1.40672
Conservative Setup
Entry: 1.46586
TP: 1.43778, 1.42606, 1.41463
SL: 1.48319
EURUSD 5-OHappy Friday, Troops. I haven't been active in a while- I've been working on those 5-o's. They still aren't doing anything for me, I'm a much bigger fan of the Ms and Ws, but here goes.
As harmonic swing traders we look at the daily chart for direction and use the 4 hour to find a pattern that fits direction (in a nutshell)- I occasionally look at daily patterns with support and resistance from weekly charts but that's once in a blue moon.
If you look at this daily chart there's a ascending wedge; within said wedge we have a 3-drive pattern. I'll be long until the 3-drive is complete. At which point, a bearish 5-o is completing on the daily chart. I'll be looking for a short signal from around 1.095(ish), and entering until the pivot point around 1.06.
Again, I'm new to the whole 5-O game, it was suggested to me by a friend- lets see how this plays out!
