Three Drives Pattern
A 1-minute lesson from the MarketPro academy, one of 22 in chart patterns.
The three drives pattern is an advanced harmonic-style formation consisting of three consecutive pushes to a new high or low, each one typically related to the last by a consistent Fibonacci ratio, suggesting an exhausting trend that may be nearing a turning point. Each "drive" is followed by a corrective pullback, with the retracement between drives often measuring near common Fibonacci ratios such as 61.8% or 78.6%, and the distance of each subsequent drive frequently extending by a similar ratio relative to the prior one.
The three drives pattern is an advanced harmonic-style formation consisting of three consecutive pushes to a new high or low, each one typically related to the last by a consistent Fibonacci ratio, suggesting an exhausting trend that may be nearing a turning point.
Each "drive" is followed by a corrective pullback, with the retracement between drives often measuring near common Fibonacci ratios such as 61.8% or 78.6%, and the distance of each subsequent drive frequently extending by a similar ratio relative to the prior one.
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Lesson 18 of 22 in Chart patterns
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