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Three Drives

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 !
Long
by Nico.Muselle
25
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)
Long
by X5
AUDCHF - 4H - Gartley in a downward move at resistanceReally nice setup here. We are curretly retesting strong prior resistance/support further we are in an downtrend or at least downward corrective move. daily chart is really messed up so hard to tell. at least recently we are moved alot more to the downside. due to a good harmonic move id like to see a three dive pattern here with a great RRR if it plays out. current bar seems to be hammer and an inside bar which was the final trigger for me to go short here.
Short
by SergeantPringles
The Amazing Three Drives PatternThe Three Drives patterns is one of the most powerful patterns i have encountered. : Bearish Three Drives pattern . 1) First wave is a normal bearish wave, then followed by correction 2) second wave is another bearish wave that extends beyond the first wave low and reach the 1.27 Fibonacci extension for the first pullback(AB on chart) 3)Then the most important wave is the third wave, which extends beyond the second wave low. At this point you should be ready to monitor the price around the 1.27 extension for the second pullback wave(CD on chart). it is called the PRZ(Potential Reversal Zone). Expect an upside rebound at this area. If you add a confirmation tool like the hammer candlestick pattern at the PRZ of three drives you increase your chances even further. For Daily Forecasts, trading ideas and tutorials , visit www.thefxchannel.com Best Regards, Technician
Education
by Technician
4