Dragon patterns are mentioned by Surri Dudella in his 2007 book ''trade chart patterns like the pros''. One of his reviews says: Dont read this book - make money with it!
His book consists of hundreds of trading techniques and one of those are the harmonic dragon pattern which is shown here.
There are alot of ways to trade this pattern, but it is mainly defined as a double top or double bottom pattern. It consists of a neckline, head, two legs and a hump. If you want to get more into this pattern make sure to read his book and perhaps do some research if you have not heard about Surri Dudella.
There are 3 potential profit targets in this set-up:
Fibonacci retracements from head to second leg
62% 0.657xx
100% 0.679xx
127-162% 0.695xx-0.715xx
Now the same setup happens to be forming a potential Cup & Handle pattern.. What do you guys think?
Please dont forget to leave a like and make sure to leave any ideas regarding NZDUSD in the comments below!
God bless and happy new year!
His book consists of hundreds of trading techniques and one of those are the harmonic dragon pattern which is shown here.
There are alot of ways to trade this pattern, but it is mainly defined as a double top or double bottom pattern. It consists of a neckline, head, two legs and a hump. If you want to get more into this pattern make sure to read his book and perhaps do some research if you have not heard about Surri Dudella.
There are 3 potential profit targets in this set-up:
Fibonacci retracements from head to second leg
62% 0.657xx
100% 0.679xx
127-162% 0.695xx-0.715xx
Now the same setup happens to be forming a potential Cup & Handle pattern.. What do you guys think?
Please dont forget to leave a like and make sure to leave any ideas regarding NZDUSD in the comments below!
God bless and happy new year!
