The “Dragon” pattern is a simple pattern of technical analysis that refers to reversal price models and its occurrence predicts the future change in the market direction. With that, one should be able to draw a trend line from the pattern's head to the highest point of its hump.
FPGROUP chart pattern appear rectangle channel at wave 3 to 4. If succesfully break and stay above 1.05 level, Trend continuation is clear to find immediate resistance at 1.15. Ultimate TP is 1.6 taking 3-6 month period.
Entry above 1.05 and any reversal below 1.00 consider loss interest for this counter.
Disclaimer: This trading idea is strictly intended for educational purposes only so please do your own study before making decision.
FPGROUP chart pattern appear rectangle channel at wave 3 to 4. If succesfully break and stay above 1.05 level, Trend continuation is clear to find immediate resistance at 1.15. Ultimate TP is 1.6 taking 3-6 month period.
Entry above 1.05 and any reversal below 1.00 consider loss interest for this counter.
Disclaimer: This trading idea is strictly intended for educational purposes only so please do your own study before making decision.