ThreeDrives pattern to catch the bottom — GBP/USD 4-hour chart
Hello!
I'm Satori, researching FX.
This time, I will deliver “Bottom-catching with ThreeDrives pattern: GBPJPY 4-hour chart.”
The figure below shows an example of a buying signal near the bottom in the GBPJPY 4-hour ThreeDrives pattern.
A reversal point after making a low.
The blue buy signal is at 14:00 on May 29, 2018 Japan time.
As of June 7, the unrealized gain was +280 pips in value.
http://livedoor.blogimg.jp/fxmt4indicator/imgs/b/6/b6037103.gif
ThreeDrives is a harmonic chart pattern that tends to form at turning points and is watched by Western institutional investors; if it occurs in the bottom zone, it offers greater potential for price movement.
ThreeDrives patterns have bullish (buy) and bearish (sell) orientations, and in this case, of course, bullish.
Even if a buy signal appears in the bottom zone, it is better not to buy immediately but to wait for confirmation of an upward reversal.
The key point is to wait to buy until you confirm that the bottom zone is rising higher, for example with a long bearish candlestick, a long lower wick, or a three-bar pattern called “three soldiers” of three consecutive bullish candles.
Because the rebound from fully exhausted downward energy tends to yield larger price moves.
Even if it is not three bullish candles like Three Soldiers, if the lowest point of the lower shadow rises in a right-shouldered upward sequence three times, it can be considered a sign of rebound.
Because the rebound from fully exhausted downward energy tends to yield larger price moves.
Even if it is not three bullish candles like Three Soldiers, if the lowest point of the lower shadow rises in a right-shouldered upward sequence three times, it can be considered a sign of rebound.
The indicators used today are as follows.
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MT4 Harmonic Three Drives family Search Indicator
http://fxmt4indicator.abproducts.biz/wp/?page_id=2013
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Harmonics that are easy to form at turning points watched by Western institutional investors
Similar to W-bottom and Head and Shoulders!
Signals arrows for Three Drives, The 5-0, AB=CD patterns
and also notifies via email/alerts!
and also notifies via email/alerts!
Thank you very much for reading up to here today as well.
Well then, please take care.
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Publisher: Art Brain Products
FX Technical Strategy Researcher
Satori Kokoro
Email: info atmark abproducts.biz
Blog: Fibonacci Retracement FX Research:http://fxmt4indicator.blog.jp/
Indicators & Tools & EA:http://fxmt4indicator.abproducts.biz/wp/
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