No, I meant after 1002 (the reversal point). Are you seeing this small inverse dragon with midpoint around 12:30?. Came up 1/2 pt from my target so I didn't get a good fill.
No rule how big the drop would be. Yes, you correctly recognized the the 2nd dragon of the day, 15 min NDX chart: Height is 12 pts, 3rd top came at 10 pts, slightly earlier than the 1618+12=1630 indicated.... If you meant by midpoint the failure point then yes, it was at 12:30 right on the SMA line...
yes, that's the inverse I meant (except ES). I'm holding short from 1000.50 x 3. Took 1 off at 999, left stop at 1000.50 and hoping to ride the last 2 to 989-993 by lowering stops. Looking good to the downside so far.
I have this theory (so far) mentioned earlier in this thread, that when we have back to back dragons and the first didn't provide a huge drop, then the 2nd one would be the real deal and gave the HOD/end of the rally top... We shall see....
So it did work out that way. Although after the close the futures went 1.5 pts higher than that HOD, but the cash never did and this morning it went down by a decent amount...
Inverse Dragon on ES (8AM-12:30PM). Only issue is the reversal point occurred at a full height (rather than 80%) from the failure (which was within 1/4 pt). I'm trying a short here from 1002.5 stop at 1003.5. Height = 4.75. edit: out - too tight of a stop but this inv dragon was already pushing the limits. Should have made it 104.50.
I didn't see it on the SPX but here is one on the NDX: Height 6 pts, Failure at 3.5 pts 3rd top nicely at 6 pts and dropped 3 pts from there...
This one is still in process on the Dow, the 3rd top is around 93.30: Height is 45 pts, Failure at 92.85...