Dragon pattern

[vmaxer]

Biggest dragon ever:

SPX to 272???

 

[ammo]

pek is this a dragon

 

[wee man]

Here is my favourite ...

 

[Pekelo]

Quote from ammo:

pek is this a dragon

It looks more like a sideways consolidation after the runup. For a topping dragon it came down too much on Friday.

Quote from vmaxer:

Biggest dragon ever:

SPX to 272???

I hope not. The numbers are certainly look good, but the problem is the same than with the GE chart:

Since it is a runup, we should expect a topping (upside down) dragon, but what you guys expecting is the normal, bottoming dragon. So in both cases I would say consolidation. Specially in the SPX case, where with the weak dollar I just can't see the index falling so low...

 

[vmaxer]

Double Dragon day on ES:

Blue dragon Height = 6
White dragon Height = 6.75

Interesting that both 3rd bottoms appear to come up short although the white dragon has yet to turn upwards.

 

[Pekelo]

Quote from vmaxer:

Double Dragon day on ES:

Not bad. The blue one is the same like the one I posted in the ES Journal:

Here is how the white one could have been better, showing it on the Dow chart (easier to see):

Height 50 pts

Failure at 25 pts

3rd bottom 45 pts

 

[vmaxer]

Quote from vmaxer:

Double Dragon day on ES:

Blue dragon Height = 6
White dragon Height = 6.75

Interesting that both 3rd bottoms appear to come up short although the white dragon has yet to turn upwards.

The 2nd dragon reversed at 53.75 and went to 63 next day.

 

[vmaxer]

another today:

height = 30
failed at 1059 (2.5 pts too high)
so 1029 target

It's around 1038 so far.

 

[Pekelo]

Quote from vmaxer:

height = 30
failed at 1059 (2.5 pts too high)
so 1029 target

Good catch again. The reason I like to use the cash chart is because it is less jumpy (less noise messing up the numbers) and easier to read the numbers and they are closer to the classic pattern.

Here it is:

My height is 29 pts and Failure at 1063ish, so 3rd bottom is around 1034....(1030 for ES)

 

[vertigo3]

thanks