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Three Drives

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
EDUCATIONAL: 3 Drive PatternThe 3 Drive pattern is a 5-leg pattern. In a perfect 3 Drive pattern the XA leg will be a 0.618 to 0.786 retracement of the OX leg, the AB leg will be either a a 1.272 or 1.618 extension of the XA leg, the BC leg will be a 0.618 to 0.786 retracement of the AB leg, and the CD leg will be either a 1.272 or 1.618 extension of the BC leg. Also, the three drive legs (i.e., OX, AB, and CD) should form in about the same number of bars. We appreciate your interest in our analysis, if you agree (or not) with our work, and would like to continue reading our opinions, be part of it with your "I Like"... Thanks you! SignalSuisse www.nonsolotrading.com
Education
by TheAnonymousBanker
2
GBPJPY 1 Hour: Potential CTS Shortthis was a potential opportunity that I had on my radar yesterday, unfortunately the markets decided to do absolutely nothing but go sideways creating a channel. If we breakout of this channel to the upside I'll be looking at a third harmonic move setting up a potential selling opportunity as we come into previous structure resistance starting at the 187.40's level. Syndicate members, i just emailed out a video going over this one in a little more detail. Also Check out my latest Periscope Video "3 Questions From A Prospective Trader" www.youtube.com Akil Stokes Chief Currency Analyst & Trading Coach www.TradeEmpowered.com -------------------------------------------------------------- What's Stopping You From Success? Take Our Free Trader Assessment tradeempowered.com
Short
by Akil_Stokes
6
BAT PATTERN GBPJPY H4 BEARISH: VERY NICE RISK REWARD SITUATIONBat pattern Setup!! Hello guys Errol here, We are looking at a possible bearish bat pattern here. We might also see a 3 Drives pattern if we get a completion at the top of the third leg which also lines up with previous structure. We aslo have some Ratio congfluence at the D leg completion where we are looking to get short. Very nice risk to reward situation right here. Stops above X TGT 1 0.382% TGT2 0.618% Best of luck out there!!!!
Short
by ErrolMuller
Two potential buy zones towards rate decision$AUDUSD failed to rally from the buy zone I mentioned in my previous analysis and decline below 0.715 till it met the uptrend line created by previous lows. Two bullish scenarios I'm monitoring towards next week (notice RBA rate decision): 1. A close above the 50 SMA line - The price will remain above the uptrend line and will turn the 50 days MA to support 2. If the price will decline to re-test the previous lows, it may create an Aggressive C buy zone near 0.7 for a bearish 3 drives pattern (see potential R/R in the chart) Tomer, The MarketZone This analysis is part of the Weekly Markets Analysis newsletters- To read more interesting technical reviews - goo.gl To subscribe to the newsletters - goo.gl
Long
by themarketzone