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HowLn @HowLn_
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#TATIP

Three Drives

•Most of us expect trends to end in some epic buying/selling climax (i.e. Parabolic blow off) However, this isn't always the case.
•There are other types of climaxes and one of the more commons ones is the three drives pattern.
Concept:

The market has been making new highs at a somewhat steady pace before suddenly rapidly picking up pace. New highs begin forming after small retraces. These frequent drives to new highs suggest franctiness amongst buyers. Eventually, the built-up pressure is released.
Use:

Spotting a three drive pattern doesn't necessarily warrant a counter-trend position. However, with trend traders should take profit or move up stops to protect against a potential reversal. Can be used as a factor of confluence.
Example: $BTC

Three symmetrical pushes into $7'350 resistance leads to a devastating drop.
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