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Three drives pattern

Information is not investment advice

The three drives pattern consists of a series of higher highs or higher lows. It is similar to the ABCD pattern. The difference is that a Three drives pattern is made of 5 legs, while an ABCD pattern has only 4. Three-Drives is a reversal pattern, so it signals an upcoming change in a trend.

Here are the key parameters of a Three drives pattern:

  • Point A is at the 61.8% retracement of the drive 1.
  • Point B is at the 61.8% retracement of the drive 2.
  • Drive 2 is at the 127.2%-161.8% extension of A.
  • Drive 3 is at the 127.2%-161.8% extension of B.

Notice that the price should spend equal time on forming the drives 2 and 3. Corrections A and B should also take equal time.

Bullish and bearish three drive patterns

How to trade Three drives patterns

There are 2 ways of trading a Three drives pattern:

  1. You can trade the drive 3. Enter the market when you are sure that the market has formed the point B (buy in a bearish Three-Drive and sell in a bullish Three Drive). Take Profit should be around the 127.2%-161.8% extension of B.
  2. You can trade when the entire pattern is complete. Enter the market at the 127.2%-161.8% extension of B (sell in a bearish Three-Drive and buy in a bullish Three Drive). Take Profit can be put at the 61.8% Fibonacci retracement of the entire pattern.

Candlestick chart: ways of trading a three drives pattern

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The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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