Anatomy of a Dragon Pattern
A. Head of the Dragon
B. Formation of first leg
C. Hump (must be 0.38 to 0.5 of AB)
D. Second leg (can be 0.618 to 1.27 of AB)
E. Trend line breakout (Long Trigger)
F. First target at 1.27 of CD
G. Second target at 0.886 to 1.0 of BC
H. Third target at 1.38 of AB
I. STOP: Place a stop few ticks below
the lowest low of two legs.
A. Head of the Dragon
B. Formation of first leg
C. Hump (must be 0.38 to 0.5 of AB)
D. Second leg (can be 0.618 to 1.27 of AB)
E. Trend line breakout (Long Trigger)
F. First target at 1.27 of CD
G. Second target at 0.886 to 1.0 of BC
H. Third target at 1.38 of AB
I. STOP: Place a stop few ticks below
the lowest low of two legs.
Trade closed manually
closed at near third leg at 1.272
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.