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Dragons in the Market ! |
shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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Post: #1  Posted: Fri Apr 08, 2011 8:36 pm Post subject: Dragons in the Market ! |
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Here is a small writeup on dragons and couple of charts.
QUOTE
Here is a pattern that was recognized some time ago. The thing about it is that it clearly identifies elements of support and resistance. This pattern identifies short term reversals in the trend which are very tradable.
If you look at the first chart which labels the key elements. The Back will always rise to test the Bottom of the tail-hook (support/resistance). After the second leg is in place you can buy the breakout of the Back price.
Now here is an interesting point that breakout will rise to the level of the top of the tail (support/resistance). If the bottom of the head does not come down and violate the top of the back we have a high probability of continuation.
Check this out for yourself before trading this setup.
UNQUOTE
SHEKHAR
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shekharinvest
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Joined: 21 Dec 2007
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pattiboy02
White Belt
Joined: 16 Mar 2009
Posts: 220
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| Post: #3 Posted: Thu Apr 14, 2011 9:36 am Post subject: |
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Dear shekharinvest
it seems Dragon is coming.......
regards
pattiboy02  
| shekharinvest wrote: | Hi,
Here is the reason why I posted.
Posted below is Nifty chart with relevant marking on it.
Will be posting some Fibo relatioships in the following posts and the way these dragons are traded.
Meanwhile, please dont ask too many questions, visualised this pattern for the first time only. 
SHEKHAR |
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marne.vivek
White Belt
Joined: 11 Apr 2008
Posts: 244
Location: Pune / Mumbai
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| Post: #4 Posted: Thu Apr 14, 2011 9:51 am Post subject: |
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This is a nice post..
_________________
Vivek |
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deepakms
White Belt
Joined: 13 Aug 2009
Posts: 194
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| Post: #5 Posted: Thu Apr 14, 2011 10:00 am Post subject: |
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Hi Shekhar,
I tried drawing these marking on the bank nifty as it seems similar to the nifty chart.....but can u confirm if its a Dragon formation.
Possible tgt for the bank nifty in such case.
Thnx/Rgds
Deepak
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #6 Posted: Thu Apr 14, 2011 11:30 am Post subject: |
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| deepakms wrote: | Hi Shekhar,
I tried drawing these marking on the bank nifty as it seems similar to the nifty chart.....but can u confirm if its a Dragon formation.
Possible tgt for the bank nifty in such case.
Thnx/Rgds
Deepak |
Hi Deepak,
I Dont know much abt this Dragon stuff, still while searching thru google, I came across one article (PDF), hope this will add some knowledge on Dragon trading.
Link is - http://www.surinotes.com/Tradestation/articles/suriDragon.pdf
Regards,
Chetan.
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deepakms
White Belt
Joined: 13 Aug 2009
Posts: 194
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| Post: #7 Posted: Thu Apr 14, 2011 5:25 pm Post subject: |
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Thnx Chetan,
Its got a detailed info on the DRAGON formation,will surely help all in the forum.
Thnx/rgds
Deepak
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #8 Posted: Fri Apr 15, 2011 8:25 am Post subject: |
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deepakms
You are right it indeed is a Dragon, couple of other charts are also showing this pattern. Probably they are all following Nifty.
Keep a watch as long as Head does not goes below the back pattern remain valid. Pattern is still under formation head part.
One can take entry (long) when the price breakout from the head Tgt top of the extended tail.
SHEKHAR
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #9 Posted: Sun Jul 24, 2011 8:20 am Post subject: |
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Break out in Renuka Sugars.
SHEKHAR
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Rahulsharmaat
Black Belt
Joined: 04 Nov 2009
Posts: 2766
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| Post: #10 Posted: Sun Jul 24, 2011 10:49 am Post subject: |
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| Bajaj Hind also making such formation ???
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veerappan
Expert
Joined: 19 Dec 2007
Posts: 3680
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| Post: #11 Posted: Sun Jul 24, 2011 10:59 am Post subject: |
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shekar chart is saying it wont fall is it?
let us c.....from monday onwards.....
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ragarwal
Yellow Belt
Joined: 16 Nov 2008
Posts: 582
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| Post: #12 Posted: Sun Jul 24, 2011 11:16 am Post subject: |
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dear rahul,i hv downloaded broco 4.can u plz help me to set up fx pro trade.
regds rashmi
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Rahulsharmaat
Black Belt
Joined: 04 Nov 2009
Posts: 2766
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| Post: #13 Posted: Sun Jul 24, 2011 11:21 am Post subject: |
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| Veerapan Sir --tell your numbers please
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Rahulsharmaat
Black Belt
Joined: 04 Nov 2009
Posts: 2766
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| Post: #14 Posted: Sun Jul 24, 2011 11:28 am Post subject: |
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Sure Ragarwal
open C:\Program Files\Broco Trader\experts\indicators
and put these 7 in indicators
Open C:\Program Files\Broco Trader\templates
Fix this one there n start
fxtradepro.tpl
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ragarwal
Yellow Belt
Joined: 16 Nov 2008
Posts: 582
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| Post: #15 Posted: Sun Jul 24, 2011 11:46 am Post subject: |
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| thnx a lot rahul
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