Home Forex Price Action Candlestick patterns Test your knowledge about Candlesticks

Test your knowledge about Candlesticks

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After our discussion about short-bodied candlestick in our article

Candlestick Trading Patterns II – Everything you need to know about Single Candlestick Signals

Here you can test your newly acquired knowledge about the matter. If you haven’t read it, please do so before the quiz.

 

 

A candle with a large and white body shows...

Correct! Wrong!

White candles are impulsive bullish movements, showing momentum, where demand is higher than the offer, so the price goes up.

A candle with a black and large body means

Correct! Wrong!

Black candles are bearish impulses, with plenty of bearish momentum. The demand cannot cope with the offer, so prices move down.

A long upper shadow in a daily chart shows

Correct! Wrong!

There is no way to know when the market pulled down. What is sure is that sellers pulled down the price from its high, so they havd the control.

Which is the usual name of a small-bodied candlestick?

Correct! Wrong!

Which is required for a hammer?

Correct! Wrong!

What statement describes better a High Wave Candle?

Correct! Wrong!

What is the market sentiment in a High Wave Candle

Correct! Wrong!

The fact that the price to an extreme bullish high, and then to its extreme low, to finally close near the open level shows overall market confusion and, possibly, market manipulation by a handful of knowledgeable traders.

What is the difference between a Hammer and a Hanging Man?

Correct! Wrong!

Hanging man appears at the top of an uptrend whereas a hammer shows up after a descending trend.

Why does a Hanging Man needs further confirmation?

Correct! Wrong!

What is needed to confirm a Hanging Man?

Correct! Wrong!

Which candlesticks have large upper shadows?

Correct! Wrong!

Choose the criteria for a Shooting Star

Correct! Wrong!

The color of the body of a Shooting Star is

Correct! Wrong!

If you see a small body just below a resistance level, it shows that

Correct! Wrong!

Resistance levels are the usual places to take profits. The consequences of this cannot be forecasted. The trend might continue up or turn down.

If an asset has a steady uptrend, then the trend slows down,next an ordely retracement happens, and finally it forms a small body, what is wise to do?

Correct! Wrong!

 

 


Reference: The Candlestick Course – Steve Nison

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