Forex Trading Strategies

Dragon Pattern Trading in Forex Trading: A Guide

4 min read

Dragons Pattern trading Forex is a type of technical trading strategy that’s used by forex traders to identify potential points of entry and exits in the market. This strategy is one of the most reliable and profitable trading strategies out there which is why many traders prefer it and use it religiously to make money. It involves recognizing certain characteristics that form a dragon-like pattern on the chart that coincides with a strong trend. The dragons pattern is start with an uptrend of a certain duration then the market consolidates where the dragon pattern can be found then comes the reversal followed by support and resistance levels. By recognizing this pattern, trader can accurately predict price action and develop a good plan for trading.