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How to open an FBS account?
Click the ‘Open account’ button on our website and proceed to the Personal Area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity. Once you are done with all the checks, go to the preferred trading platform, and start trading.
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How to start trading?
If you are 18+ years old, you can join FBS and begin your FX journey. To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account. You may want to test the environment with virtual money with a Demo account. Once you are ready, enter the real market and trade to succeed.
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How to withdraw the money you earned with FBS?
The procedure is very straightforward. Go to the Withdrawal page on the website or the Finances section of the FBS Personal Area and access Withdrawal. You can get the earned money via the same payment system that you used for depositing. In case you funded the account via various methods, withdraw your profit via the same methods in the ratio according to the deposited sums.
Double Three and Triple Three patterns
Double and Triple Threes are the trickiest wave patterns, which consist of zigzags, flats, triangles, double and triple zigzags. There’s no any rule related to order of these correction patterns, except a position of a triangle in these structures.
What’s a Double Three pattern?
Simply put, that’s a combination of three correction patterns. Let’s have a look at an example below:
The main rules for Double Threes trading
- Double Three consists of three waves, which are marked as W-X-Y
- Wave W could be any correction pattern, except triangles
- Waves X and Y could take the form of any correction pattern
- Double Three is formed horizontally or with a low dip against the main trend
- In most cases, Double Threes are not deep corrections.
We could count a correction as a Double Three only when the structure is almost over. In other words, it’s not possible to predict this pattern from the very beginning of a correction. So, if a structure, which fits the Double Three’s rules arrives, only then we could decide to mark this pattern.
It’s important to understand that when we have just finished wave X, there’re always a few ways to finish the correction. We could have an impulse so that the correction could take the form of a flat. If a long zigzag is formed instead, then the correction turns out to be a double zigzag. Finally, if we have just a small zigzag, as shown in the chart above, then we could consider the possibility to have a double three pattern.
Real Examples
A Double Three pattern from zigzags is shown on the chart below. As you can see, waves (w), (x) and (y) are zigzags, so it’s the easiest shape of this pattern. Note that wave (y) is much the same as wave (w), so the correction moves almost horizontally, which is the key point in the rules for Double Threes.
Another example is on the next chart. There’s a Double Three pattern with huge wave (x). Also, we could perfectly see the difference between a Double Three and a Double Zigzag. Wave (x) here is a Double Zigzag, so this wave has an upward direction. Wave ((iv)) has no direction, so we could mark it like a Double Three pattern as (w)-(x)-(y).
Let’s have a look at the chart below. There are two Double Threes in waves B and ((x)). Wave (y) of ((x)) is a flat pattern, which the trickiest part of the structure. Meanwhile, both Double Threes patterns have a horizontal direction (remember, that’s the guiding criterion of any Double Three).
Sometimes wave X could be far longer than the wave W. As you can see on the next chart, wave (x) ended below the starting point of the wave (w), but then an upward zigzag in wave (y) has arrived. Moreover, wave (a) of (x) is a leading diagonal that makes this count even more complicated. So, in the real-time wave counting, we could make a decision on a possible ending of the wave ((b)) as a Double Zigzag only after waves (i) and (ii) of ((c)).
What’s a Triple Three pattern?
This pattern is longer than Double Three, so it subdivides into five waves, which all move sideways against the main trend.
The main rules for Double Threes trading
- Triple Three consists of five waves, which label as W-X-Y-X-Z
- Waves W, X, and Y could be any correction pattern, except triangles
- Second wave X and Z could take the form of any correction pattern
- Triple Three is formed horizontally or with a low dip against the main trend
- In most cases, Triple Threes are not deep corrections.
Triple Three is quite a rare pattern, so you should try to avoid counting it in real time. You can see an example of this pattern on the next chart, where wave ((b)) is a Triple Three. We could consider this structure as a Triple Zigzag only after wave (z). Actually, it works for all other correction patterns, so we should always wait until the full structure of correction arrives to make a decision on one or another wave count, which fits the rules the most.
2023-07-26 • Updated
Other articles in this section
- Structure of a Trading Robot
- Building a Trading Robot without Programming
- How to Launch Trading Robots in MetaTrader 5?
- Algorithmic Trading: What Is It?
- Fibonacci Ratios and Impulse Waves
- Guidelines of Alternation
- What is a triangle?
- Double Zigzag
- Zig Zag and Flat Patterns in Trading
- Advanced techniques of position sizing
- Truncation in the Elliott Wave Theory
- Ichimoku
- What is an extension?
- Ending Diagonal Pattern
- How to trade gaps
- Leading diagonal pattern
- Wolfe waves pattern
- Three drives pattern
- Shark
- Butterfly
- Crab Pattern
- Bat
- Gartley
- ABCD Pattern
- Harmonic patterns
- What is an impulse wave?
- Motive and corrective waves. Wave degrees
- Introduction to the Elliott Wave Theory
- How to trade breakouts
- Trading Forex news
- How to place a Take Profit order?
- Risk management
- How to place a Stop Loss order?
- Technical indicators: trading divergences
