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Answers to the Quiz Questions

This chart is used for questions 1,2, and 3

Question 1: At the area labeled as #1 on this chart, you will see a Hanging Man and a Rising Window. While many candle patterns will provide you with the understanding of who is controlling the market (buyers vs sellers), there are other concepts to ensure you recognize. The pattern that you see here is called a Hanging Man pattern. A top candlestick reversal pattern that requires confirmation. A Rising Window is The same as a Western gap. Windows are continuation candlestick patterns. When the market opens a window to the upside, it is a rising window. It is a bullish candlestick pattern and the rising window should be support.

Question 2: At the point of #2, you will see a Bearish Engulfing Pattern. A bearish engulfing candlestick pattern occurs when selling pressure overwhelms buying force as reflected by a long black real body engulfing a small white real body in an uptrend.

Question 3: At #3 on this chart, you will see a Bull Sash Pattern. Black candle followed by white candle that opens at or above black candle's prior close. Then closes over black candle open.

Question 4: Yes, it is certainly possible for a rising or falling window to occur on an intraday chart. Here is an example of a falling window on a 15 minute chart that occurred in the middle of a trading day. To find this, we used Nison Candle Scanner to scan markets on a 15 chart. This identified a window that was 1 cent. *Note that small windows are Steve's favorite candle pattern

Question 5: A Bear Sash is a white candle followed by black candle that opens within white real body, and closes under white candle's open. (Note on this chart white candle would be the same as green candle, and black candle would be same as red candle)

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