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Three Drives

some continuation followed by consolidative move in semissemiconductors are on an upward trajectory,and a sell the news event has marked new highs in 3x leveraged semiconductor bull etf SOXL. as long as we remain in this uptrend the market will have no trouble with a third drive to the upside, but during which i would be looking for signs of exhaustion, as some kind of daily topwick could form around rhe $20 area. if we get movement above this supply zone the chart will look more bullish, but closing the gap and pivoting to an hourly equillibrium in an overbought area rsi. that being said a higher supply could take a day or two so as long as sundays numbers are positive or negligible loss nq1! semiconductors should find a local extreme to the highs early or mid next week and consolidate. upper horizontals are stiff resistance, and lower horizontals are areas to be explored for short candidacy.
AMEX:SOXLLong
by cerealpatterns
AUDUSD - 3 DRIVE INTO FIB LEVEL!!In the AUDUSD this morning we are in the later stages of a 3 Drive pattern into a 61.8% Fib level. There hasnt been a decent retracement to sell but now im thinking this could be the start of the first retracement to take us back up to the 0.75 area and if there is a nice ABCD pattern back up then that will be the chance to flip from long to short. Monday morning thoughts. Let me know what you think or do you see something else. Enjoy the day.. 👍👍
Long
by L_F
2
CRYPTO- Patterns & patterns. ALGORAND.BINANCE:ALGOUSDT In this post I take a look at some of the patterns I trade and how often they show up. This is a30min chart over the last couple of weeks of ALGORAND. Firstly is a 3 DRIVE into the high. This pattern often occurs at highs or at lows and normally has an ABCD pattern with it. Next we have the 135 pattern which occurs when leaving a high or a low. After that we have the AB=CD Pattern. Now we are completing a Gartley and Butterfly pattern coming in at mulitiple Fibonacci levels. This is just a look at the patterns I use and how often they occur. I hope this helps. Enjoy the day. 👍👍
Education
by L_F
Multi-time frame TRIGGER PRICE ACTION The three driver pattern has been created in daily time and the price has moved towards the level of the first driver. The level of the first driver is at the location of the weekly support area. This area is drawn according to the weekly pivot, which is a pristine surface. Also, by connecting the upper level of the 3 drivers to each other, a channel line is formed, which creates an ascending channel by moving the bottom of the channel to the source of the upward movement. The price is now at the bottom of the uptrend channel, and since this is the second price encounter to this level, we can expect the uptrend to start at least 50% of the uptrend channel. Of course, we note that the price can go down to 66% below the weekly support area. There are knots in the way of rising prices that can cause a reaction
Long
by mohamadrezaKhorsand
2
XAUUSD - GOLD BUYGOLD had a nice spike low last week and is looking to move higher. On the close Friday we completed the 3 Drive and also a nice Gartley pattern into the 61.8% area where we a re expecting a bounce especially if this is going to be bullish. We need to stay above 1920 on the short term for this to be bullish, any drop 1900 would see a possible move a lot lower. AI has the GOLD trending higher for the day and we have just retraced into the 50-61.8% area from Fridays low and todays high. I hope this helps. Enjoy the day!! 👍👍
OANDA:XAUUSDLong
by L_F
3