Three Drives
USD/CAD H4 - Short setup - ABCD pattern / 3-D pattern projectionPrice will pressure channel resistance and bear divergence suggest that the price is about to fall and retest daily support at 1.2720
I’m just waiting for reversal bar pattern inside PRZ to consider a short position.
On H1 chart, it looks like the price will retest near resistance at 1.3059 before downtrend starts (bull divergence is present).
EUR/GBP H4 - Short setup - 3D pattern3-Drive pattern completed. A Wolfe wave pattern is at sight. I’ll try to go short for the 61.8 – 78.6 Fibo retracements as a first target, keeping an eye on the ABCD pattern projection on D1 chart (green).
View on H1 chart:
Full of patterns on EURO???Market is trading below a significant resistant since sept 2015 plus there is several possible patterns. In the red is a good area to go short. This market prediction is just my opinions. If you agree hit like button, or you can share your view.
EUR/JPY D1 - Possible short setup - ABCD patternPrice will be pressure channel resistance, will see if a new bearish ABCD pattern can be develop or the price will continue high for a Wolfe wave pattern...
I'll be watching if the price hits the PRZ box and bear divergence + reversal bar pattern presents itself.
My view on H4 chart: Bearish Shark and 3-drive pattern in play
EUR/GBP H4 - Possible long setup - ABCD patternWaiting for bull divergence + reversal bar pattern inside PRZ. Will see if the bearish 3D pattern completes and overlaps to ABCD pattern on D1 chart (green) for a future short position.
NZD/USD Bearish 3 Drives Pattern 30 minThere is a 3 drives completion around .6715-.6720. I'm looking to get short around .6717, with my stop at .6726. I wanna take profits at the swing low at .6675. There is also a .886 fib confluence in the kill zone. Good luck trading out there.
EURUSD _ Potential bullish momentum Potential bullish action if the trend hit the decision zone due to these two resons :-
*First Technically :-
1- Valid Three drives pattern.
2- Valid structure zone .
3- 0.50 fib retracement for AB leg
4- Valid channel pattern.
*Second Fundamentally :-
Monetary Policy issued by ECB since 2 week regarding the economy stimulation by delivering more than expected
easing monetary police ( QE_ stimulus system ) , including a more negative deposit rate and increasing bounds purchases , having said that this gave EUR appreciation against USD , further more last week FOMC delivered a dovish statement which would decease the rate hikes forecasting for this year than what have been stated by FOMC in 16 of December 2015 .
Based on technical and fundamental analysis , bullish movement may be expected and if the trend close above 1.137 , we might expect to reach 1.144 level.
The Three Drives Pattern // Educational ®The Three Drives Pattern by Larry Pesavento and Leslie Joufla.
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USDCHF - 3 POINT DRIVE - D USDCHF 3 POINT DRIVE ON DAILY CHART
Will be going long around the 0.95750 mark or going short if it breaks out past it.
SHORT TERM BULL of GU lead to MID TERM BEARFebruary Gap of GU will be closing soon as the price advancing to the upper level and creating high peak and trough. The price slowly bouncing in the shallow bullish trendline and from the dow theory perspectives the minor trend showed up a bullish trend, while the primary and secondary trend are not confirmed yet to be bullish. The closing gap will generate a strong resistance, clustered with failed harmonic ext retracement, which leads to shark pattern, also rising wedge combined with bearish three-drive harmonic pattern. After lower trough have been made, the bullish trend transition will continue as shark and transition trapping completed.
POTENTIAL BULLISH CYPHER PATTERN ON NZDJPYAs Market is coming down it has Three Drive pattern and RSI is oversold and there is cypher pattern entry also.
Entry-73.64
Stop loss-73.10
First Target-74.74
Second Target-75.42
USDJPY: BEARISH BAT PATTERN + 3 DRIVE PATTERN @ PRZ !!!Hello Traders,
Here we have a really good trade setup on USDJPY , which includes a bearish bat pattern and a 3 drive pattern (blue in color), right at potential reversal zone (PRZ) which consists of several Fibonacci retracements and extensions. 115.18 level (X point of bat pattern) is a strong resistance level which has been tested several times (marked by red arrows). But we would need to place our stop loss above the previous structure low high. Targets and stops are labelled on the chart above.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
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GBPUSD_Potential Three Drives PatternPotential reverse at this zone due to :-
1- completion of Three drives pattern.
2-completion of ABCD pattern.
3-completion of butterfly pattern.
4-valid structure level.
EURUSD H1 - Possible structure (Short and Long positions)Bullish 3D pattern is in play and a possible Wolfe structure can be setup.
a) If the price breaks a little bit the resistance channel (point 5) and a bearish divergence emerges, then it could be a good opportunity to go short targeting 61.8-78.6 fibo retracements (as a first target) and Wolfe wave target as second.
b) If channel remains intact, then it could be a good idea to go Long around 61.8-78.6 Fibo retracements.
Keep in mind that the pair is bullish, but the Bearish Bat pattern on D1 chart is complete (see link below) and bearish divergence is present, so the price could go down in short term.
EUR/GBP -LONG SETUP-1. As shown we are in a channeling uptrend idea of this is to try ride the uptrend as soon as possible
2. Channel support being tested showing price rejection
3. Horizontal support area
4. Fib 38% Seems to be holding
5. Potential inverted hammer being formed
6. Arrows on price showing measured moves to the upside
USOIL_ Potential Rally Movement !Potential bullish movement due to the followings :-
1-Valid Three drives pattern.
2-Fib retracement 0.886 for AB leg.
3-Fib extension 1.618 For BCLeg.
GBPAUD_Cypher pattern completion Potential reverse expected at the decision zone due to the following :-
1- completion of Cypher pattern
2-completion of Three drives pattern (At lower time frame )
3-0.618 , 0.50 Fib retracement for AB , CB legs
4- valid structure level
5-RSI overbought with regular divergence
AUDUSD - Trading the GAP - 3-drives harmonic move.Reasons for entry :
- Bullish Gartley completion
- previous structure/support
- potential 3-drives harmonic move
- fibonacci cluster around week open
- Higher High, Higher Low indicating an uptrend on this time frame
- excellent RR > 6:1
The week on AUDUSD opened with a gap which is not visible on the TradingView charts. We already put in an AB=CD move which brought us to the top (B-point) of the Gartley pattern. We retraced back into previous resistance/support completing the bullish Gartley.
I'm looking for this structure to hold and a potential 3-drives move right into the week open, where we have a nice Fib cluster :
0.786 retracement of 0.7320 high and this week's low
1.272 this weeks low and most recent high
1.414 previous low and most recent high
and 1.618 of inverse extension of current low and most recent high.
Since we are putting in new HH and HL, for me chances are good that we will try to at least reach the border of that gap. This would present us with a nice Reward:Risk ration higher than 6:1
Option 2 : if current lows do not hold and we break below structure we have a potential bull Cypher pattern setting up.
Good trading and may the pips be with you !
EUR/USD H4 - Contracting triangle broken - LONGContracting triangle broken and now the price is following pattern projection (green) on D1 chart (see link below)
On H4 chart, a new channel has formed and a bullish 3D pattern emerges. Bear divergence is present, so it coul be a good idea to trade:
1) Short, targeting 61.8 - 78.6 fibo retracements and after that,
2) Long, targeting 127.2 - 161.8 fibo retracements
As a recommendation, wait for reversal bar pattern inside PRZ box (use H1 chart if necessary)
