HOMEWORK ALERT – Complete your homework before starting Class 6

Chapter 5 - Intraday Chart Patterns: Homework #5

Completing your homework is for your own benefit.  Answers should be in Paragraph form.  If you want to succeed as a trader, you have to show motivation & discipline.

1. Which chart patterns offer the best resolution?
2. Which time frames do you use to look for chart patterns?
3. Which chart pattern are you going to focus on in your trading plan?
4. When you are looking at whole dollar rolls, micro pullbacks, or 1min bull flags, which types of orders would you use and how much slippage would you allow?  Where would you set your stop?
5. What makes a daily chart “Strong”?
6. Why is this a weak daily chart?

7. Why is this a strong daily chart?


Welcome to your DTC: #5 Quiz

1. Trader A says chart patterns are what we use to establish entry points and profit potential. Trader B says It would be possible to day trade without charts or charting patterns. Who is correct?
2. Trader A says a super strong stock can override a poor daily chart. Trader B says a great daily chart usually can’t override a poor intraday chart or a lack of intra-day volume.  Who is correct?
3. During a Flat Top Breakout Pattern where do you set your stop?
4. During a Bull Flag Breakout, what is an indicator that the pattern may not work?
5. Where do we look to find the most significant support/resistance?
6. All of these are a type of risk when day trading EXCEPT: