USD/CHF: Three-Drive!

1-2-3 Drive!

Are you aware of the Three-Drive pattern? If not, this is roughly how it works:

 

  • Corrections A and B are on the 0.618 Fib level of each drive (arrows 1,2, and 3).

 

  • Each drive bounces on the 1.272 Fib level of its previous correction (aka A and B).

 

  • Time needed for correction/drive to be completed must be the same for every correction/drive.

 

On the 4hrs time-frame of EUR/CHF, it seems that this pattern is nearly done.

Once drive 3 is completed, the price will most probably bounce.

 

But who knows?

 

That’s right, NOBODY knows!! So you better use Stop loss (SL) AND Take Profit (TP) on EVERY trade.

 

Suggested SL: 1.618 Fib level of correction B.

Suggested TP: 0.618 Fib level of Drive 2.


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