Don’t waste your time – keep track of how NFP affects the US dollar!
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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 the 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:
Notice that the price should spend equal time on forming drives 2 and 3. Corrections A and B should also take equal time.
There are 2 ways of trading a three drives pattern: