Patterns Final Exam

To what Fibonacci level do we preferably want to see retracement when forming bull/bear flag?

0.618 and 0.66
0.382
0.5

After an impulsive move (pole) price starts to create a flag (sideways movement). You want to see:

Volume increasing in a flag
Volume decreasing in a flag

In general, patterns trading works better on:

smaller TF (5min, 15min, 30min)
higher TF (1H, 4H, D)

Head and shoulders pattern is valid only on:

Higher timeframe
Smaller timeframe

Head and shoulders is:

reversal pattern
continuation pattern

Where should be the highest volume in H&S pattern?

Left shoulder
Head
Right shoulder

Entering position based on H&S is valid only on:

a neckline breakout
a retracement from 0.5 pulled from Head to Right shoulder.

Wedge is created by:

3 touches – 1 on first side and 2 on other
7 touches – 3 on frist side 4 on other
5 touches – 2 on first side and 3 on other

As a confirmation of valid breakout of wedge apex, we look for:

heavy volume increase
a break in the trendline of the wedge
breaking through nearest horizontal level

What is main TP on this trade based on falling wedge?

LEVEL 1 – Start of the falling wedge
LEVEL 2 – 618 and 66 pulled from high where the wedge start to the swing low of the wedge.

Triangle is a:

continuation pattern
reversal pattern

What is invalidation of triangle?

low volume
free space inside the pattern

What is an important part of harmonic patterns?

there must be symmetry
XA can’t be any size, it needs to be specifically long.

You never enter trade based only on one Fibonacci level and possible harmonic pattern forming. Is that true?

Yes
No

With cypher pattern, to get the level C we pull fibonacci extension to:

From X to A back to X
From X to A down to B

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