Chart patterns 5 Created on June 20, 2023 By Over1251 Chart patterns 1 / 10 When trading chart patterns, where should you put your stop? The original formation's center One pip less than your entrance price Stops should not be used. 2 / 10 The distance price swings after a break in a head and shoulders pattern is usually equivalent to... The distance between the highest point of the head and the neckline. One-half the size of the head The space between the shoulder's highest point and the neckline 3 / 10 In a downtrend, what do you call the chart pattern generated when a valley is formed, followed by an even lower valley, and then another valley equal to the first valley? Falling Wedge Double Bottom Inverse head and shoulders 4 / 10 What do you call chart patterns that indicate that the current trend will most likely continue? Bilateral Reversal Continuation 5 / 10 What does "bilateral" mean in the context of chart patterns? It suggests there are two versions, one bearish and one bullish. It means that all chart patterns are the same. It signifies that there is no prejudice as to where the price will go; the breakout can be up or down. 6 / 10 What is the ideal entry position for trading a double bottom pattern? At the break of the resistance neckline At the break of support At the formation of the second bottom 15 pips after the break out 7 / 10 The following statements concerning a flag pattern are correct It is a trend continuation pattern It forms after a very sharp price movement It forms going in the opposite direction of the main trend All the above 8 / 10 Which of the following patterns is not a continuation chart pattern? Triangles Rectangles Cup and handle Heads and shoulders 9 / 10 Which method is best for trading heads and shoulders? Wait for the bearish candle to close below the support/neckline. Enter a trade when the second shoulder begins to form Enter at the head's completion 15 pips after the break 10 / 10 What would be your confirmation signal if you were to trade a double top pattern? A bearish candlestick closes below the pattern's support/neckline. As the second top forms As the second top forms 15 pips below the neckline Your score isThe average score is 60% LinkedIn Facebook VKontakte 0% Restart quiz
