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MessagePosté le: Ven 24 Juin - 19:43 (2011)    Sujet du message: bearish Three-Drive Pattern Répondre en citant

The bearish Three-Drive Pattern
three “drives” to a market top


What is it?
  • Suggests a potential reversal of a bullish market
  • One of the rare patterns where price and time symmetry are key
    • Once you know what to look for, this pattern may be easily identfiedor “jump out” at you
  • Formed by three consecutive symmetrical mountain tops
    • Contains two connecting (intertwined) bearish ABCD patterns
    • Also contains a bearish butterfly pattern (completing at the third drive)
Why is it important?
  • Suggests that a market may be at its most bullish, in which a more significant correction may occur
  • May offer an excellent risk/reward ratio
  • Pattern failure suggests a potentially strong bullish continuation may be in progress
Sounds good... So how do I find it?
First, it’s very important to remember not to “force” a three-drive pattern. Price and time symmetry are key, so the pattern should really stand out as three distinct, symmetrical drives to a top. Traders should also remember that the three-drive is far less common than a butterfly or Gartley (especially on longer timeframes).

Source: GFT
The bearish Three-Drive Pattern Rules
  1. Symmetry is the key to this pattern
  2. Drives 2 and 3 should be 127.2% or 161.8% extensions of the A and C retracements
  3. The A and C retracements will typically be 61.8% or 78.6% of the previous swing
    • In strongly trending markets these retracements may be 38.2% or 50%
  4. Times of the A and C retracements should be symmetrical. The same is true for extensions (second and third drives to the top)
  5. A large price gap at anytime may be a sign that the pattern is wrong. Traders should wait for further confirmation that a top is in progress
Example 1: GBP/JPY, 2 min

Source: GFT

Example 2: GBP/JPY, 2 min

(Bearish 3-drive within the last leg of above pattern)

Source: GFT
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MessagePosté le: Ven 24 Juin - 19:43 (2011)    Sujet du message: Publicité

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