Dragon pattern
- Thread starter Pekelo
- Start date
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!!!
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!!!
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...
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...
funnyThe 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.
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.
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....
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....