Really looking at charts without any indicators or other markings is a key step in getting a feel for market direction, and for whether a market is trending or choppy. Geometric patterns, covered in Section 5, are larger-scale patterns in that they may comprise a large number of bars. In Section 5, patterns are classified as reversal, continuation, or breakout.
QUESTION 5.1 GBPUSD Daily (1)
What is the major pattern?
Is it a reversal, continuation, or breakout pattern?
Draw in the pattern.
Is it a textbook example?
Does the pattern have a target? If so, draw it in and specify if target was met.
Is there another pattern worth noting on the chart?
Is it a reversal or continuation pattern?
Draw in the pattern.
QUESTION 5.2 ATI Daily
What is the major pattern?
Is it a reversal, continuation, or breakout pattern?
Draw in the pattern, and name one of the lines you draw.
Does the pattern have a target? If so, draw it in, and specify if target was met.
QUESTION 5.3 EUR Daily
Find a large pattern on this chart. Did it start off as one sort of pattern and change into another? If so, discuss.
Find a medium-sized pattern on this chart. Name it. ...
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