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MessagePosté le: Ven 24 Juin - 19:45 (2011)    Sujet du message: bullish Three-Drive Pattern Répondre en citant

The bullish Three-Drive Pattern
three “drives” to a market bottom


What is it?
  • Suggests a potential reversal of a bearish 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 identified or “jump out” at you
  • Formed by three consecutive symmetrical valleys
    • Contains two connecting (intertwined) bullish ABCD patterns
    • Also contains a bullish butterfly pattern (completing at the third drive)
Why is it important?
  • Suggests the culmination (exhaustion) of a bearish market where a more significant correction may occur
  • May offer an excellent risk-to-reward ratio
  • Pattern failure suggests a potentially strong bearish continuation may be in progress
Sounds good... So how do I find it?
First, it’s 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 bottom. Traders should also remember that the three-drive is far less common than a butterfly or Gartley (especially on longer timeframes).

Source: GFT
The bullish 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. The times of the A and C retracements should be symmetrical. The same is true for extensions (second and third drives to the bottom)
  5. A large price gap at anytime may be a sign that the pattern is wrong. Traders should wait for further confirmation that a bottom is in progress
Example 1: GBP/JPY, 2 min

Source: GFT
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MessagePosté le: Ven 24 Juin - 19:45 (2011)    Sujet du message: Publicité

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