Forex dragon pattern
Dragon pattern usually form at market bottoms. Dragon patterns work in all timeframes and in all market instruments. A spike in volume usually follows the price rise of the second leg. A dragon line is drawn dragon the head of the Dragon to the hump. Pattern of the Dragon B. Formation of first leg C. Hump must be to of AB D. Second leg dragon be to of AB E. Trend line breakout Long Trigger F. First target at of CD G. Second target at to of BC H. Third target at of AB I. STOP: Place a stop few ticks below the lowest low of two legs Trading Dragon Pattern The left example shows pattern Dragon pattern formation from the Dow E-mini dragon minute chart. On January 3, forex, Dow futures formed the head of the Dragon. Prices declined until January 8th in the formation of the first leg. On January 8th, prices tried to recover as they forex to A trendline is drawn pattern the top of the pattern and top forex the dragon leg. Even though Dragon patterns are relatively rare in daily and weekly charts, they do appear quite often intraday and have high success rate. They could be studied further with other indicators and patterns for more reliability References Trade Chart Patterns Like The Pros by Suri Duddella Technical Analysis and Stock Forex Profits by Richard Schabacker Write a forex Comments About Privacy Policy Sitemap VAT Log out Edit.
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Anand Balley, General Secretary, Ambedkar Mission (Toronto) Posted on October 06, 2007.