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Dragonpattern

GBPJPY D1- Continue Rectangle or Bullish Dragon Pattern?GBPJPY D1- Continue Rectangle or Bullish Dragon Pattern? Currency Pair: GBP.JPY Time Frame: Daily Predicted Direction: Neutral - Price bounced several times within PCZ Entry: I will open Sell if the price will make breakdown of @138.74 (SL = @141.41, TP = @130.59) I will open Buy if the price will make breakout of @141.41 (SL = @138.74, TP = @148.73) GBP.JPY updates will be available in the comments section below. The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
by erbe
EURUSD DAY DRAGON BULLISH REVERSAL PATTERNThis trade was brought to our attention by Tex3rdgen from the strike-trader-signals-chatroom. Here is his comments "I'm seeing a very definite Dragon Pattern on EURUSD daily chart. For those who haven't heard of it, it is a reversal pattern, it looks left with head at the top of a typical long neck with front feet lower than back feet with a hump in between. Confirmation comes at the break of the down TL drawn from back of head to back of hump. May confirm on Monday." Thanks Tex
Long
by Tradingstrategyguides
2
Stellar Lumens Pulls BackAfter a meteoric rise, rallying over 1000% in the past month alone, it finally appears to be forming a dragon head consolidation pattern. We’ve dipped as low as $0.62, but tested and rejected a Fibonacci level at $0.68. We are still testing the upper bound of the KRI, and are currently seated there at the time of this writing at about $0.74. Technically speaking, XLM is extraordinarily strong still, with both Kovach Momentum Indicators solidly bullish. Any dip into the $0.60 handle should be considered a buying opportunity, with the Fibonacci Extension level of $0.93 as a price target before we consider testing $1 again. Beware that today’s candle seems to be forming a giant doji which suggests some ambivalence, and could augur a reversal. Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here ! For daily commentary on cryptocurrencies, subscribe to our newsletter !
BITTREX:XLMUSDLong
by quantguy
14
Neo ConsolidatesAfter the retracement predicted in this newsletter, Neo appears to have solidified its footing in the $100 handle, at the time of this writing, sitting at about $100 exactly. We appear to be consolidating and will likely form a dragon head pattern, all too familiar in cryptocurrencies. We are still testing the upper bound of the KRI, which should provide resistance at $101. Next, we have the Fibonacci Fan level at $108, and from below, a Fibonacci Fan level at $92. There is a worrisome vacuum zone from below however, with the next level of support being at $80 or so, a psychological and technical level, roughly coinciding with previous highs. Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here ! For daily commentary on cryptocurrencies, subscribe to our newsletter !
BITFINEX:NEOUSDLong
by quantguy
EOS Breakout NearEOS, like many cryptocurrencies faced a setback with the Santa Claus effect, but looks primed for another breakout. It appears to be in the consolidation phase, the fourth and final phase of the dragon head pattern. In Cryptocurrencies, a breakout is a virtual certainty with this pattern. We appear to be in the first segment of a new Elliott Impulse wave, so there is still time. Both Kovach Momentum indicators are still strong, and the price hasn't caught up yet. Also, we are hovering at a strong Fibonacci Level which should provide support. If you're interested in my indicators, check them out here ! Also, check out our daily newsletter !
BITFINEX:EOSUSDLong
by quantguy
XRP Winding Up for Another BreakoutRipple still appears to be consolidating in a dragon head pattern, finding support around $0.70 a psychological level which coincides with a Fibonacci level. Clearly some retracement should be expected after XRP’s breakout in mid-December. We anticipate further pullback, optimally to $0.52 or so which corresponds with a Fibonacci Level and the central moving average of the KRI. But $0.60 would serve as a more conservative option. Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here ! For daily commentary on cryptocurrencies, subscribe to our newsletter !
BITSTAMP:XRPUSDLong
by quantguy
1
IOTA Breakout... As AnticipatedAs noted yesterday in our newsletter, IOTA was indeed coiling up for another breakout as it rejected the central moving average of the KRI, and broke out from the dragon head pattern, testing the upper bound of the KRI before letting up steam. It seems IOTA is a bit ahead of the other Altcoins in terms of the Elliott Wave. It appears to have completed the corrective phase, and has begun the impulse phase of the next wave. Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here ! For daily commentary on cryptocurrencies, subscribe to our newsletter !
BITFINEX:IOTUSDLong
by quantguy