Don`t read this thread..Make Money with it.

[SIMBA]

Originally Posted by okawa

hai simba.
have a nice thread.

now i found setup for dragon pattern on USDCHF H1.

what do think..?
is it true..?


p/s: sorry my bad english.

Hi no need to be sorry ,your english is very clear..Dragon,yes the setup is right,though you will have to wait for the breach of the trendline..just checked it now,looks like it is forming a Dragon within the Dragon...you may want to trade the inner one,if so,check that there is some kind of UPdivergence(macd,rsi,whatever you use),then a breach of the trendline.

Regards

[okawa]

hai.. this is valid..?

the dragon pattern and the elipse shape is MSL.

[okawa]

Originally Posted by SIMBA

Hi no need to be sorry ,your english is very clear..Dragon,yes the setup is right,though you will have to wait for the breach of the trendline..just checked it now,looks like it is forming a Dragon within the Dragon...you may want to trade the inner one,if so,check that there is some kind of UPdivergence(macd,rsi,whatever you use),then a breach of the trendline.

Regards

thanks for reply, u mean that it will form another dragon in this dragon, so pick the inner one, and,should we confirm with UPdivergence for this pattern..?
or just use the basic (rule that u post early at first page).

[okawa]

hai..
i just want to confirm.
how about this..?

is 2B or MSL(yellow elipse)?

or both is not?

[SIMBA]

Originally Posted by okawa

hai..
i just want to confirm.
how about this..?

is 2B or MSL(yellow elipse)?

or both is not?

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.