kopparam
Long

EURUSD, Daily , Possible "Dragon pattern".

FX:EURUSD   Euro / U.S. Dollar
178 0 1
Strategy - Buying breakout of declining trendline ( blue line)

Anatomy of Dragon pattern

A.Head of the Dragon
B. Formation of first leg
C. Hump (must be 0.38 to 0.5 of AB)
D. Second leg (can be 0.618 to 1.27 of BC0.88% )
E. Trend line breakout (Long Trigger)
F. First target at 1.27 of CD
G. Second target at 0.886 to 1.0 of AB
H. Third target at 1.38 of AB
I. STOP: Place a stop few ticks below lowest low
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