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Three Drives

NZD/USD - Three Drives (Confluence)Hello traders, following up from my previous post on NZD/USD with a bearish cypher pattern (shown below). I have now spotted a bullish three drives pattern that aligns with the D point of the cypher and it looks insane! This has opened up an opportunity to trade with over 1:4 risk to reward, I'll be selling upon the breakout of the trendline. Do not forget we have the FOMC rate statement on the 1st of February and NFP on the 3rd of February, this provides additional reasoning for a 600 pip move. As always, trade safe everyone!
Short
by LewisGlasgow
31
ABCD & THREE-DRIVE EXPLAINEDHi Traders, Please find below three basic trading strategy's that can be implemented to any market on a daily basis. I have only given out basic information on the ratio's and fibonacci's of the two strategy's, should you need anymore in depth information don't hesitate to contact me. ABCD Rules Of Engagement: 1. Point C must retrace to a 0.618 of the A - B move 2. Point D must be a 1.272 projection of the B - C move 3. Buy/Sell at the D leg completion. Three -Drive Rules Of Engagement: 1. Point A should be the 0.618 retracement of drive 1 2 Point B should be the 0.618 retracement of drive 2 3. Drive 3 should be the 1.272 extension of the B correction
Education
by UnknownUnicorn180388
35
GBPAUD: Potential Bat Formation w/ Equal Measured MovesHey 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. The cool thing about this chart is that the equal measured moves are not only on the extensions (in red), but also on the retracements (in blue). Always pretty neat when the market moves like that.
Long
by Akil_Stokes
14