Welcome to the Market Patterns Challenge - Round 1
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Go For It...
NOTE: READ THE KEY NOTES on every question!!! This will be the only hints given. Use the pics and links in any of the questions to help you select the correct answer.
IMPORTANT: If you need to see a chart pic larger, you can zoom the page on your phone to get a better view. The webpage pics are just too small for many to see. If you do click an image, it will open in a new tab/window. Simply close that tab when done and tap the tab you had the quiz in to resume.
Best of learning to you all & most of all, have fun!!! 🙂
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1.
On market charts, candlestick activity over a period of time are setting up what type of thing?
KEY NOTES:
- In market charts, we see that the candlesticks are green and red with directions of movement up and down at price levels.
- Over a period of time, we will see that the price candlestick activity is setting up a market pattern.
- The pattern is created by starting with a high and low point in the market price.
- The continuation of the pattern is when we get the 2nd high and low point in the market price.
- This will then create a horizontal or diagonally straight line at the top and bottom of the pattern.
- In some cases this will cause either a triangle pattern or a wedge pattern.
- There are 3 types of triangle patterns on market charts:
- Ascending - a horizontal line at the top and rising diagonal line at the bottom
- Symmetrical - a falling diagonal line at the top and rising diagonal line at the bottom
- Descending - a falling diagonal line at the top and horizontal line at the bottom
2.
How many types of triangles can be seen in market chart patterns?
KEY NOTES:
- In market charts, we see that the candlesticks are green and red with directions of movement up and down at price levels.
- Over a period of time, we will see that the price candlestick activity is setting up a market pattern.
- The pattern is created by starting with a high and low point in the market price.
- The continuation of the pattern is when we get the 2nd high and low point in the market price.
- This will then create a horizontal or diagonally straight line at the top and bottom of the pattern.
- In some cases this will cause either a triangle pattern or a wedge pattern.
- There are 3 types of triangle patterns on market charts:
- Ascending - a horizontal line at the top and rising diagonal line at the bottom
- Symmetrical - a falling diagonal line at the top and rising diagonal line at the bottom
- Descending - a falling diagonal line at the top and horizontal line at the bottom
3.
On the ascending triangle, what is the top line considered?
KEY NOTES:
- Remember your support and resistance study... 🙂
4.
Is this pic showing a symmetrical, descending or ascending triangle?
5.
Is this pic showing a descending, ascending or symmetrical triangle?
