Price action and chart pattern trading setup
> Bullish dragon pattern symmetrical triangle
> double claws bottom strong bullish candle breakout above SMA 20 and SMA 50
> short term target at dragon tailhook resistance of the triangle 0.5 retracement and dragon hump 0.618
> medium term target at dragon head 1.0
> long term target at tail extended zone 1.618
> stop loss at the double claws zone
> risk reward ratio 2:1 for short term, 3:1 for medium term trade
Indicator:
> bullish RSI crossed above MA line over 60
> MACD golden crossed signal line just below the baseline - early trend
Always trade with affordable risk and respect your stoploss
> Bullish dragon pattern symmetrical triangle
> double claws bottom strong bullish candle breakout above SMA 20 and SMA 50
> short term target at dragon tailhook resistance of the triangle 0.5 retracement and dragon hump 0.618
> medium term target at dragon head 1.0
> long term target at tail extended zone 1.618
> stop loss at the double claws zone
> risk reward ratio 2:1 for short term, 3:1 for medium term trade
Indicator:
> bullish RSI crossed above MA line over 60
> MACD golden crossed signal line just below the baseline - early trend
Always trade with affordable risk and respect your stoploss
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.
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.