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Study Guide for Technical Analysis Explained Fifth Edition, 5th Edition by Martin J. Pring

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16

CANDLESTICK CHARTING

Answers

1. F.

2. D. Candlesticks also require the opening price. Since this was not available, it would not be possible to plot a correct candlestick chart, so none of these patterns could be plotted.

3. opening, closing

4. A. In an engulfing pattern, the second real body totally engulfs the first. A piercing line is the bullish equivalent of a dark cloud cover.

5. A.

6. Umbrella

7. A = No; B = Yes; C = No

Remember that dark cloud patterns require the opening of the second candlestick to exceed the high of the previous candlestick and for the close to develop more than halfway below that white real body of the first candlestick.

8. D.

9. A.

10. B.

11. C. A tweezer top requires the highs of two candlesticks to be identical. ...

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