Three Drives
USD/CAD H4 - Long setup - 3D pattern/Wolfe wavePrice is now completing a 3-drives pattern and an up move could be expected. OIL price is pushing CAD high and will continue till April 17 (OPEC meeting), will see if the pattern remains after that meeting.
short position on USDCAD 2 previous advance patterns completed. I am still in the trade on the blue short cypher pattern.
I believe the market will rally to the blue box area and terminate around 0.3039s. There is a Fib retracement of 0.382 in that area. Then market will reverse and continue short terminating at 1.2850s completing a 3 drives pattern. 3 drives completes at a major support level which has been tested 3 times already.
S&P 500 DOWN to 2011 next weekThree drives pattern on going.
Or we are on wave 5 down, expect a retrace to 1.272(2023.7) or 1.618(2011.3).
Then probably A up to .618(2047), or the TP of Three drives pattern.
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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