Candlestick Patterns & Altitude Chart (Supply/Demand)

Question 1

Red Sticks open at the ___ and close at the ___.

Answer 1

Top/Bottom

Question 2

Green Sticks open at the ___ and close at the ___.

Answer 2

Bottom/Top

Question 3

Red Candle Sticks is an indication of what direction…..?

Answer 3

Bearish

Question 4

Green Candle Sticks are an indication of what direction….?

Answer 4

Bullish

Question 5

The pattern of Breakout & Tight Bull Channels

Answer 5

Up - three green candles in a row

Question 6

Trading Ranges Move in what direction

Answer 6

sideways

Question 7

What is the pattern of a Breakout & Tight Bearish Channels

Answer 7

Down - three red candles in a row

Question 8

What zone is in the red box and what do people do in that zone?

Answer 8

Supply/Sell

Question 9

What zone is in the green box and what do people do in that zone?

Answer 9

Demand/Buy

Question 10

What are the components of an Altitude Chart?

Answer 10

Swing Low-Swing High- 25% 50% 75% Line and y-axis

Question 11

When do buyers have power?

Answer 11

When the price is cheap

Question 12

How do we define Altitude?

Answer 12

Use historical value to determine future value - Find the most recent trend to predict what current price will do.

Question 13

How do we plot Altitude Charts?

Answer 13

When most recent trend is up then start to go down (vice versa) - Place y-axis at the bottom for new uptrend and at top for new downtrend.

Question 14

What do we look for when price is in the buy zone of the Altitude Chart?

Answer 14

Demand zones that’s in the buy zone

Question 15

What percentage of breaks outs fail?

Answer 15

80%