Dragon pattern

Discussion in 'Technical Analysis' started by Pekelo, Feb 18, 2009.

  1. Pekelo

    Pekelo

    I wasn't really paying too much attention during the holidays (so I missed it), but sure enough we finished the year with a dragon. The last 8 trading days of 2010 on the hourly chart:

    [​IMG]

    Height was 7+ pts and the 3rd top came in at 6+ points from the Failure with a decent drop....
     
    #181     Jan 3, 2011
  2. Pekelo

    Pekelo

    2 dragons on 2 different timeframes, nicely complimenting each other:

    SPX 5days/15mins chart:

    [​IMG]

    Target already reached...By chance both targets (SPX,NDX) were 16-16 pts from the Failure...

    NDX 2days/15mins chart:

    [​IMG]

    There is still 3 points left to reach the target, although it is already good making 13 out of the expected 16 pts...
     
    #182     Jan 12, 2011
  3. Those patterns look more like any other cup and handle?
     
    #183     Jan 12, 2011
  4. Pekelo

    Pekelo

    Posted live in the ES Journal on Friday:

    ...and this is what happened:

    [​IMG]

    3-4 pts left to the expected 3rd top, I expect it to reach it by Monday 10 am, and that is usually a good shorting opportunity/time...
     
    #184     Feb 5, 2011
  5. ammo

    ammo

    you may get that last 3 or 4 points on mondays open
     
    #185     Feb 5, 2011
  6. And your meaning to tell me you put money at risk on the basis of these absurd methodologies?
     
    #186     Feb 5, 2011
  7. Pekelo

    Pekelo

    Eh??? I mean double eh???

    The pattern has been present for 2 years and I keep posting live warnings/signals occasionally that plays out most of the time.

    But if you don't like it, don't play it. Just remember, never fight the dragon! (ask the shorters on Friday) :)

    P.S.: Absurd? Triple eh???
    P.S.S.: Your comment didn't even contain a valid criticism. Quadriple eh....
     
    #187     Feb 5, 2011
  8. Ehh??? Criticism

    Double Eh?? Maybe because it was a question. Triple ehh??? don't know what one of these "?" are?

    Quadruple Eh??? You still didn't answer the question.
     
    #188     Feb 5, 2011
  9. Pekelo

    Pekelo

    Not that you deserve an answer, but I am bored:

    Oh there was one? Mind you, you do realize that you are bitching after a SUCCESSFUL usage of the pattern?? I could understand if you post when it doesn't play out....

    But anyway, why don't you ask ammo? I posted the pattern around ES 1300 with a 13 pts upmove prediction from 1298, ammo shorted it just above 1302 and we closed the day above 1307... So sure, trying to fight it paid off rather well. :)

    But to answer your question, no. I don't play it, I just like to draw straight lines at an angle and post colorful charts.

    Happy now?

    P.S.: You are on Ignore for "absurd". :cool:
     
    #189     Feb 5, 2011
  10. Well the truth finally comes out
     
    #190     Feb 5, 2011