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AUDUSD Three Drive Pattern in the makingSaw this ABCD pattern which might be heading to a Three Drive Pattern after bouncing off the .618 retracement level. I'll keep following this pair, I might go long if the price cross above .76240 but I'm mostly using it as a lab to try a couple new things. First one is using divergence when able. I don't rely on it yet to confirm my ideas, I just try to spot them and see if the market react accordingly. Once I'll be more comfortable using them I'll try to see if I can make a strategy out of it. Second one is Fibonacci time zone. Since I started trading, Fibonacci is something that really blew my mind. When I learned a few days ago that you can also use Fib retracement to see WHEN a price will move significantly I was really excited. For now I'm just using it to see how accurate that is. I'm not exactly sure yet how that will help me in my trade. Regardless, I find it neat ^^ Edit : Just realized I publish an idea a few days ago where I said we were in the 4th wave of an Elliott Wave, that would confirm the Three Drive Pattern
by Pronoe
GBPUSD Gann Price & Time AnalysisGBPUSD doing some cycle work calculation and this is a forecast if pound continues to the downside.... I give it a 2 day window either 9-1 or 9-2 and price levels.... These are using MM techniques... but there are other calculation that show it could trend higher.... so its harder to forecast with just 1 reversal bar on 8-26.... PA kissed the 50sma (Res) and has (Sup) 20sma below.... so really it has not done any damage to the upside or the downside.... if you know what I mean Keep in mind I don't rule out it could be the beginning of swing trade to the downside..... as for now I'm Neutral waiting too see how PA will act next week. Gann Analysis
by GannAnalysis