Support/Resis - Alt Chart - Trend Lines

Question 1

The 50% line can be resistant or support. True or False

Answer 1

False it is neutral

Question 2

What are the two waves and how do they move?

Answer 2

Impulse/Corrective - Fast-Longer/Slow-Shorter

Question 3

Can support & resistant lines be tested multiple times? Yes or No

Answer 3

Yes

Question 4

How many years should we go back with Technical Analysis?

Answer 4

As far as 10 years or more.

Question 5

When does a zone have the most power to support the price?

Answer 5

When it is least Active

Question 6

When does a zone have the probability to change the direction of the price?

Answer 6

When its most active

Question 7

When are demand zones most powerful?

Answer 7

When the price is cheap and in the demand zone

Question 8

How do we locate origin zones?

Answer 8

At the lowest Swing Low for demand zone and highest Swing High for supply of the chart

Question 9

When are buyers winning?

Answer 9

During an uptrend

Question 10

When are sellers winning?

Answer 10

During a downtrend

Question 11

In an uptrend, we are looking for resistant lines to become what?

Answer 11

Support Lines

Question 12

In a downtrend, we are looking for support lines to become what?

Answer 12

Resistant Lines

Question 13

Where does a bearish trend line go?

Answer 13

At the top of the downtrend pattern

Question 14

Where does a bullish trend line go?

Answer 14

At the bottom of the trend pattern

Question 15

When is a trend line out of play?

Answer 15

When price breaks the trend line and establish a reversal trend.

Question 16

What kind of trend lines do we have?

Answer 16

Minor & Major Trend lines.

Question 17

Corrective waves are waves that move with the trend. True or False

Answer 17

False - Against Trend - But doesn’t break trend

Question 18

Impulse waves are waves that move against the direction of the trend. True or False

Answer 18

False - With Trend

Question 19

Corrective wave patterns are patterns that reverses from current trend? True or False

Answer 19

True - But does’t break current trend

Question 20

What is a minor trend line?

Answer 20

Smaller movements which tend to last for very short periods of time

Question 21

What is a major trend line?

Answer 21

Main trend over a longer period of time

Question 22

If impulse waves are where the money is what do we do with Impulse waves as far as buying and selling?

Answer 22

Ride the wave meaning buy on the way up, buy more at the bottom of dip, sell or hold on next peak, buy more on the pullback, and sell or hold on the next peak etc.

Question 23

What do we do with corrective waves as far as buying and selling?

Answer 23

We sell at the top of corrective waves

Question 24

Impulse waves and corrective waves help to identify the trend. True or False

Answer 24

True

Question 25

When trendlines are broken does it mean that the trend is automatically broken?

Answer 25

No it can be temporary and continue in the established trend

Question 26

Uptrends are confirmed when we see?

Answer 26

Three peaks of higher highs and higher lows

Question 27

Downtrends are confirmed when we see?

Answer 27

Three peaks of lower highs and lower lows