You might find yourself also dreaming of scooping some kind of trophy.
Dreaming about a trophy
Generally, seeing a trophy or a medal of some description in a dream is generally a positive sign. It represents recognition and validation. Perhaps you're finally being acknowledged for the work you've been doing, or maybe you're about to be presented with a pay rise or a surprise vacation.
It can also mean that you feel you deserve to be recognised for your achievements, or just that you especially desire it. It certainly suggests that you are feeling positive about the way your life is headed at the moment.
Failing to win an award can suggest the opposite. Perhaps you feel as though you are being overlooked at work or by your friends. Maybe you don't feel as though you are doing all that you can do to achieve your goals, and are currently overwhelmed by a feeling of hopelessness and futility.
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If you're dreaming about someone you know getting an award, it could mean that that's the person you need to be around in order to achieve your own success. Certainly, it could mean that you are currently associating with the wrong sort of people in terms of reaching your targets.
Watching a stranger receiving an award, meanwhile, could represent a certain confusion in your life. Your goals seem so out of reach right now and you've no idea how to go about reaching them. Perhaps you need to surround yourself with new people - this could mean that a move is on the cards, a new career, or even just a new hobby.