I will give you a few details ahead of time, but want to explain the background to this challenge: I came to this chart as I was doing some practice through my charting program, which will take any. Thus, take as much time as you need. For this forex pattern recognition quiz you will also need either a sheet of paper and pen, or a word document open to type your answers. Remember, there are no points for cheating, so only honesty here. Low:.8260, close:.8280, one more piece of data, where to trade cryptocurrency reddit the low on the red candle prior was.8259. Popular, fibonacci, fibonacci, elementary, start Quiz, brokers 101. Write down or type all the patterns you can find in this chart.
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This can actually hinder our overall pattern recognition skills to spot newer patterns and this is one of the most important skill sets of a trader pattern recognition. Practicing something that is easily learned does not breed new neural connections which is what we want to do here. With that being said, I am going to post the next three candles tomorrow on the following page around this same time; You will want to look for the post which will be called Forex Trade Signals and Setups Feb. Our Forex quiz is absolutely free to use, its ad-free and you forex pub quiz can use it as often as you like. Then make sure to leave a comment how your strategy did, what was the entry, stop and limit, or if you didnt trade at all. Save Your Quiz Scores! I look forward to your responses tomorrow. Once you are done, then mark down the time as you will need this later.
As soon as you begin, start your stopwatch and begin to write or type as many patterns as you can see. The Exercise, first off, you will need a watch or a something that keeps track of time as you will want to time yourself on this. So this is the chart one bar later. Begin with the chart below. To make it a little easier for you to make a decision, I have decided to provide the data on the last blue candle with the black dot above it which has the following pieces of data; Open:.8275, high:.8285. Brokers 101, kindergarten, start Quiz, carry Trade, carry Trade. Test your forex knowledge NOW! Ok, so you should have all your strategies and rules in place for taking (or not taking) a trade on the next candle, which you will see in the chart below. If you like it invite your friends to try it as well. Once you see the following chart with the next candle in this series, the go back to your list of strategies, and decide what you think is the most appropriate for the new candle.
21st In this post I will provide the chart with the next three candles, and then you can compare how your strategy did and share with me what your strategy was, rules for entry, stop and limit, and what the final result was. Save Quiz Scores, Sign In, featured. The whole point of this forex pattern recognition quiz is to be an exercise whereby you; a) test your pattern recognition skills b) see how quickly you can come up with the patterns c) see how quickly you can. Come up with a strategy that you think is best to trade this pair now that the blue candle is closed. All questions5 questions6 questions7 questions8 questions9 questions10 questions11 questions12 questions13 questions14 questions15 questions16 questions17 questions18 questions19 questions20 questions. Ok, now that you are done, make sure to write down the time and how long it took forex pub quiz you to find all the patterns that you did. So make sure to come back tomorrow to the link I shared above, to see the next 3 bars, and how your strategy did.
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This is what you are looking for patterns in the behavior. There are actual behaviors in this chart you are about to see that repeat themselves. The next step is to look at all the patterns and price action behaviors, then come up with a few strategies based on what you noticed. Make sure you have written all the rules for the strategy, such as your entry, stop and limit. 0 of 20 questions completed, questions:, welcome to our Forex Quiz for Beginners. So, that is the challenge.
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What I am going to do is share with you my strategy, what patterns I isolated to come up with it, and how it played out. If you want to trade at the end of the bar, you do, if not, you dont. Cherish those sweet victories, and look for low scores that you want to improve. Difficulty, sequential Easy First Hard First, play. If it happens twice its a pattern. Not what kind of bars you see, ( pinbar, inside bar, etc.) as that does not take too much skill and is something that can be easily learned.
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