An upside down dragon failure has just happened, here it is on the NDX hourly chart: Height is 70 points, Failure was at 1390, 3rd top prediction is at 1460.... For the SPX that is around 930...
A blast from the past, Ammo brought it to my attention. It is the weekly chart, and since I don't look at the weekly often, I didn't notice it, but the prediction was almost perfect: 1st bottom: ~745 2nd bottom: ~800 Quite a big difference, so it was harder to see the double bottom, but nothing is perfect Failure: at 875* (at the SMA line) (Hard to read it exactly) Height is ~200 pts The 3rd bottom came at 666 which is pretty much the same as the projected!!! (875-200=675) * Holy Smoky!!! I actually looked it up and the Failure happened on Apr 13th, at 864+, so the math was 864-200=664, pretty much the same as the BOTTOM!!!
so pek, because this dragon info wont go into my memory bank,what is the projected bounce off of the 674 and if it happens, what happens after that , thanks pek
The size of the bounce can not be predicted. The pattern only says where the 3rd bottom/top would occur, the size of the bounce varies. You have to play the pattern most of the time before the 3rd bottom/top occurs. That weekly chart was shown as an example, it already played out. Accidentally there was another smaller dragon on the 15 mins chart predicting the exact same 667 bottom. Just like today's NDX failure, there was a slight 10 points pullback from 1410 to 1400 what was excellent for loading up with longs and sure enough we went higher closing at 1420. Since this chart was a 10days/hourly playing out the pattern might take 1-2 days. One important thing what posters (shorters) didn't realize in the ES journal thread was that it never goes lower than the Failure. The NDX failure was at 1390 and we only dropped back to 1400...
The even funnier part is that I rebuted the guy, but you weren't smart enough to notice. Now let's make something clear, I don't care if I get credited or not, being credited doesn't make me money, using the pattern does. If one is smart enough, he is trying to use it, and profit from it, good for him. If not, it is his loss. Recent example would be in the ES thread where after I told them we are going higher they keep shorting the market and guess what happened? NQ gapped up overnight and currently is at 1429, halfway there to my projected 3rd top... Now, that is funny... P.S.: I don't feel like I INVENTED it, but I do feel like I DISCOVERED it.
Congratulations for the discovery and thanks for sharing! There are lots of envy people out there... Good trading to all!
One day later, let's see how our dragon failure proceeded: For most of the day we were going sideways, but the last hour put in the predicted move and the NDX closed at 1435 while the NQ hit 1442....
People with really sharp eyes might have noticed a mini-dragon failure inside the bigger one: The Height is 40 points, Failure was at 1411 (perfectly at half of the Height), so the projected 3rd top is 1451, very close to the bigger dragon's 1460 projection. My theory is that when this small dragon in a bigger one happens that is the signal for a bigger turn. If true, this 1450-60 area should be the top for the NDX for quite a while....