Below is a slider quiz to test your ability to identify inverted and descending scallops and trade them. Captions appear below the pictures in red for guidance, so be sure to scroll down far enough to read them.
1 / 7
The inverted and descending scallop is a chart pattern you'll see a lot which is why I don't talk about it much. If I were to show all of those I found each Friday, it would
take me hours to log all of them and a similar time for the webpage to load. I show two of them on this chart. The first starts at A and ends at B. Notice that the bottom of A is above the bottom
of B. Price at the top of the pattern rounds over (or it's supposed to, but be flexible). The CD pattern is better looking than AB. Given that price ends the pattern at the bottom, the breakout is usually downward.
2 / 7
Find as many inverted and descending scallop as you can. For help, click here.
3 / 7
Here they are, two of them. When I try to gauge roundness of the top, I usually use the price highs not the lows in the turn. The red line touches the price lows. Have I confused you?
4 / 7
Let's try again. Find as many inverted and descending scallop as you can.
5 / 7
Of the three, A looks best, B has an irregular shape, and C is a bit pointed. If you found only A, that's fine.
6 / 7
The scallop is in the upper right of the chart. At point A, the stock breaks out downward. How far down will price go, to B, C, D, or none of the above?
7 / 7
How far will price drop? Line B is the correct answer.
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33,500 or 30,500 by 06/01/2022
on 