Dragon with Phoenix Together, the dragon and phoenix symbolize Yin and Yang together: perfect balance. Standing alone, each symbol is hugely powerful. Together they represent a power- packed union of success, prosperity, friendship, love, and enlightenment. The union of these two highly symbolic creatures at wedding festivities suggests a match that is blessed with money and incredible luck. Furthermore, it denotes the beginning of a dynastic family with the dragon symbolizing the patriarch and they phoenix signifying the matriarch.