Quote:
Originally Posted by okawa
hai..
i just want to confirm.
how about this..?
is 2B or MSL(yellow elipse)?
or both is not?
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Hi Okawa san.
This is a Dragon the size of the emperor`s palace in Tokyo..please check my picture dragon1 ....it complies ALL the Fibonacci rules for it to be defined as a Dragon.
2b..there may be a 2b if price closes back ABOVE 1.1870 on a D1 timeframe...above the horizontal Aqua line..but still not there.
If you check pic dragon2 you will seee that in h4 tf there was a divergence between price and MACD action,so the Dragon had a divergence,even if at a lower tf,supporting it.
My suggestion...if the setup is unclear,do not trade it..it has to hit you in the face to be tradable,and the higher the timeframe the better.
This is what I meant with "a dragon within a dragon(h1 dragon up within d1 dragon down)since the h1 trendline was not broken up,the h1 was not triggered...but the d1 was...always check the global picture...it pays off very well.