Flashcards in Support/Resis - Alt Chart - Trade Lines Deck (32)
The Y-axis vertical line is always to the ___ of the lowest point of viewing.
The 50% line can be resistant or support. True or False
False it is neutral
In a new chart where is the lowest point?
Use wicks for swing low + swing high. True or False
How many candlesticks are needed to confirm a trend?
What are the two waves and how do they move?
Impulse/Corrective - Fast-Longer/Slow-Shorter
A stock will continue an uptrend or downtrend after how many tries at the resistant line or support line.
What are the altitude bottom and top lines?
Swing Low and Swing High lines
What are the middle lines in an altitude chart?
Support & Resistant lines
Can support & resistant lines be tested multiple times? Yes or No
How many years should we go back with Technical Analysis?
As far as 10 years or more.
When does a zone have the most power to support the price?
When does a zone have the probability to change the direction of the price?
When its most active
Define power in the demand zone.
When the price is cheap and in the demand zone
When does a zone start?
After the first major Swing Low or Swing High
When are buyers winning?
During an uptrend
When are sellers winning?
During a downtrend
In an uptrend, we are looking for resistant lines to become what?
In a downtrend, we are looking for support lines to become what?
Where does a downtrend line go?
At the top of the downtrend pattern
Where does an uptrend line go?
At the bottom of the trend pattern
When is a trend line out of play?
Once price breaks the trend line
What kind of trend lines do we have?
Minor & Major Trend lines.
Impulse waves can refer to upward movements in uptrends or downward movements in downtrends. No up or downtrend no impulse or corrective. True or False
Corrective waves are waves that move with the trend. True or False
False - Against Trend
Impulse waves are waves that net move against the direction of the trend at one larger degree. True or False
False - With Trend
Corrective wave patterns are patterns that reverses from current trend? True or False
What is a minor trend line?
Smaller movements which tend to last for very short periods of time
What is a major trend line?
Main trend over a longer period of time