As of 05/20/2022
  Indus: 31,262 +8.77 +0.0%  
  Trans: 13,491 +51.76 +0.4%  
  Utils: 991 +1.46 +0.1%  
  Nasdaq: 11,355 -33.88 -0.3%  
  S&P 500: 3,901 +0.57 +0.0%  
YTD
-14.0%  
-18.1%  
 +1.0%  
-27.4%  
-18.1%  
  Targets    Overview: 05/15/2022  
  Up arrow33,500 or 30,500 by 06/01/2022
  Up arrow14,700 or 12,400 by 06/01/2022
  Up arrow1,050 or 940 by 06/01/2022
  Up arrow12,800 or 11,000 by 06/01/2022
  Up arrow4,150 or 3,700 by 06/01/2022
CPI (updated daily): Arrows on 4/21/22
As of 05/20/2022
  Indus: 31,262 +8.77 +0.0%  
  Trans: 13,491 +51.76 +0.4%  
  Utils: 991 +1.46 +0.1%  
  Nasdaq: 11,355 -33.88 -0.3%  
  S&P 500: 3,901 +0.57 +0.0%  
YTD
-14.0%  
-18.1%  
 +1.0%  
-27.4%  
-18.1%  
  Targets    Overview: 05/15/2022  
  Up arrow33,500 or 30,500 by 06/01/2022
  Up arrow14,700 or 12,400 by 06/01/2022
  Up arrow1,050 or 940 by 06/01/2022
  Up arrow12,800 or 11,000 by 06/01/2022
  Up arrow4,150 or 3,700 by 06/01/2022
CPI (updated daily): Arrows on 4/21/22

Bulkowski's Diamond Offshore Trading Quiz

 

Released 8/3/2021.

DO: Quiz

Below is a slider quiz to test your trading ability. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.

 

1 / 4
chart pattern

What chart patterns can you find? Look for the following (if you find others, great!): Rising wedge, falling wedge, descending broadening wedge, descending triangle, broadening bottom, right-angled and ascending broadening formation.

Answers are on the next slide.
2 / 4
chart pattern

Imagine that you own this stock. How do you decide when to sell? That's a tough call when there's no chart patterns to call the top. That may mean the top has not been reached yet, but more likely it means that price has reversed without creating a pattern you recognize

Do you sell this stock now?
See the next slide for one answer.
3 / 4
chart pattern

Victor Sperandeo in his book, Trader Vic - Methods of a Wall Street Master describes his trend change method which I call the 1-2-3 trend change. My books Trading Classic Chart Patterns and Getting Started in Chart Patterns, Second Edition discuss the method at length. Here's a brief review.

Draw a trendline from the lowest low to the highest high on the chart such that the line doesn't pass through prices until AFTER it reaches the high. I show this line in red in the above chart.

Step 1: Price closes below the trendline (point 1)
Step 2: Price retests the high. Sometimes it exceeds the prior high but most times, as in this case, it doesn't. The high is 2A and the retest is point 2.
Step 3: Price drops below the minor low (valley) between the two peaks, 2A and 2.

After all three steps occur, price has changed trend and it's time to sell a long position or consider going short.

The next slide shows what happened to the stock.
4 / 4
chart pattern

Price completed the 1-2-3 trend change and formed a rounding turn. After that, price moved up in a straight-line run and formed higher highs. Price at A reached a high of 26.85 and the low at B was 21.19, a decline of 21%, which qualifies as a trend change (20% is the minimum).

The End.

See Also

 
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Chart Patterns: After the Buy

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