2/06/2013 The pattern shows up intra-day as well...
Divergence at the dragon's Rear-feet suggested a possible end to the down trend was imminent. The 2x divergence (TRIX histo and MACD) at the dragon's Front-feet said BUY...this had to do some work to break free of the level around the dragon's HUMP (over/under resistance) but the Reverse-Divergence there was encouraging.
Kensey's new website combines all of the great aspects that ClearStation provided plus he has added many terrific tools to enhance the user's experience; Market Scans and Trackers are two examples of new features he has included so far. I have always found his insights on market action to be of great value, along with his ability to narrow down the sectors/stocks that have above average potential...His new site promises to be even better than his previous one...
Trades don't always work out...The picture below shows an entry I took using 3xD and a 2B dragon pattern as the trade rational. I entered using a Limit+TTO at the Hump, after it broke that level and retraced..
In retrospect, it wasn't a good trade to take in the first place - the low at the front feet was actually higher than the low at the rear feet, thus both entry reasons were wrong. There wasn't divergence and the Dragon never completely landed on the ground...
This is why I always use stops - to minimize the damage done by my sloppy chart reading, by uncooperative markets and by failed entry rational.
Different time frames but plenty of patterns on each.