AliShirali

How to read market?three drive and three touch

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AliShirali Updated   
OANDA:AUDUSD   Australian Dollar / U.S. Dollar

Good day traders:
Let's start with supply and demand:
Golden Key's that run markets.
What is supply? Sell orders in different layers of the market. In order for the buyers group to drive the price to higher levels, these sales orders must be consumed.
What we see on the chart forming is all about buying and selling of currencies.
What is supply?
Supply, is a amount of currency that someone is wanting to sell at a certain price. A stack of orders or a pallet or more of cash money that has to be moved out of the way before we can move to a higher level.
What is demand?
s supply?
Demand, is a amount of currency that someone is wanting to buy at a certain price.
In order for the sellers group to drive the price to lower levels this buy orders must be consumed.

Balance or imbalance?


And it's the reality that makes currency movements in the market.
Price begins an uptrend and create a series of higher high and higher low.
But how do we know where this uptrend/downtrend movement ends?
One of this patterns that tell us this trend may be at the end is the three-drive pattern.
It is a price following pattern that indicates a potential upcoming reverse in the trend.
A golden trading opportunity.
Three drive indicates if the market is exhausted or not.
It is also a three harmonic chart pattern.
What is the purpose of this pattern?
The main purpose of three drive is to look for similar successive price fluctuations.
It is a reversal pattern that usually we may see at the end of a trend.
How we can benefit to trade two side of pattern?
There is an easy role for trend line when price touch it for third time.
Now a little about 3touch continuation pattern:
We know what the trend line is and how to draw it after three price touch.
There is many point to consider trading a pattern.
We only trade order flow and pattern help us get a better idea where to enter or exit of a trade.
Have a great sunday,
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