Wikipedia : The Dragon's Eye is an ancient Germanic symbol as discovered by Rudolf Koch. The Dragon's Eye is an equilateral triangle pointing downward with a "Y" in the middle connecting the three points of the triangle together. According to Carl G. Liungman's Dictionary of Symbols, it combines the triangle meaning threat and the "Y" meaning a choice between good and evil.
The dragon's eye is a well known symbol of protection, said to protect anyone who recited the incantation to it. The dragon is a universal motif linked to various cultures of humanity for 5,000 years. The word dragon comes from "derkesthai" (Greek: to glance dartingly) which, in a Hindu tradition, was the hungry look of the very first being when its fiery spirit was born out of the abyss of water. The Dragon's Eye symbol stands for the balance of love, power and wisdom. Triple triangles are associated with the Goddess and the nine Muses
Fox-Moon : Dragon Eye - It is drawn to impart sight into the unknown or that which is hidden. It is also used for protection, ensuring that whatever it is drawn on is under the 'dragon's gaze'.