Takeover Just Run FOREX Quiz August 12, 2019

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| By Romario_wilkinso
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Romario_wilkinso
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Quizzes Created: 1 | Total Attempts: 292
| Attempts: 292
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  • 1/10 Questions

    What are the correct terms for Floor & Ceiling?

    • Double Tops & Double Bottoms
    • Support & Resistance
    • Head & Shoulders
    • Buy & Sell
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About This Quiz

This Forex quiz from August 12, 2019, assesses understanding of market patterns, trading sessions, analysis types, and key terms like support and resistance. It is designed for traders to test and enhance their market knowledge across various time frames, crucial for effective trading.

Takeover Just Run FOREX Quiz August 12, 2019 - Quiz

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  • 2. 

    The Fibonacci Retracement Tool can be used as another confirmation.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The Fibonacci Retracement Tool is a technical analysis tool used to identify potential levels of support and resistance in a price chart. It is based on the Fibonacci sequence, a mathematical pattern found in nature and financial markets. By plotting the Fibonacci retracement levels on a chart, traders can look for price reversals or confirmations of existing trends. Therefore, using the Fibonacci Retracement Tool can indeed provide another confirmation for traders when making trading decisions.

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  • 3. 

    The Harmonic Scanner and the Bounceback Tool only provide trades during the New York session

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The explanation for the given answer "False" is that the Harmonic Scanner and the Bounceback Tool are not limited to providing trades only during the New York session. They can provide trades throughout the day, including during other trading sessions such as the Asian or European sessions. Therefore, the statement that they only provide trades during the New York session is incorrect.

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  • 4. 

    What are the four main trading sessions?

    • Sydney

    • Caribbean

    • New York

    • Tokyo

    • African

    • London

    Correct Answer(s)
    A. Sydney
    A. New York
    A. Tokyo
    A. London
    Explanation
    The four main trading sessions in the forex market are Sydney, New York, Tokyo, and London. These sessions represent the major financial centers around the world and their corresponding time zones. The Sydney session starts the trading day, followed by the Tokyo session, then the London session, and finally the New York session. Each session has its own characteristics and trading volume, with overlaps between sessions leading to increased liquidity and volatility in the market.

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  • 5. 
    Is this pattern indicating a buy or a sell on the Harmonic Scanner? - ProProfs

    Is this pattern indicating a buy or a sell on the Harmonic Scanner?

    • Sell

    • Buy

    Correct Answer
    A. Sell
    Explanation
    The given answer "Sell" suggests that the pattern indicated by the Harmonic Scanner is indicating a sell signal. This means that the scanner has identified a pattern in the market that is typically associated with a downward movement in price or a potential selling opportunity. Traders using the Harmonic Scanner may interpret this pattern as a signal to sell their positions or enter into short positions in order to profit from a potential decline in price.

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  • 6. 
    What time frames does the Fibonacci retracement tool work on? - ProProfs

    What time frames does the Fibonacci retracement tool work on?

    • M15 ONLY

    • Bounceback

    • H1 & H4

    • All time frames

    Correct Answer
    A. All time frames
    Explanation
    The Fibonacci retracement tool is a technical analysis tool used to identify potential support and resistance levels in a market. It is based on the Fibonacci sequence and can be applied to any time frame, from minutes to hours, days, or even longer. By analyzing price movements and identifying key Fibonacci levels, traders can make predictions about possible price reversals or continuation patterns. Therefore, the correct answer is that the Fibonacci retracement tool works on all time frames.

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  • 7. 

    What are the 3 types of analysis?

    • Fundemental

    • Sentimental

    • Neurological

    • Technical

    • Factual

    Correct Answer(s)
    A. Fundemental
    A. Sentimental
    A. Technical
    Explanation
    The correct answer is Fundamental, Sentimental, and Technical. These three types of analysis are commonly used in various fields such as finance, economics, and market research. Fundamental analysis involves evaluating the intrinsic value of an asset based on economic, financial, and qualitative factors. Sentimental analysis focuses on understanding and interpreting the emotions and opinions of individuals or groups towards a particular subject. Technical analysis involves studying historical price and volume data to predict future market movements. These three types of analysis provide different perspectives and insights, allowing for a comprehensive understanding of a given situation or market.

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  • 8. 
    What do traders expect when they see this pattern? - ProProfs

    What do traders expect when they see this pattern?

    • A continuation

    • A reversal

    • A spikes

    • Consolidation

    Correct Answer
    A. A continuation
    Explanation
    Traders expect a continuation when they see this pattern. This means that they anticipate the current trend to continue in the same direction. This could indicate that the price will continue to rise if it is in an uptrend or continue to fall if it is in a downtrend. Traders may use this information to make trading decisions and potentially profit from the continuation of the trend.

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  • 9. 
    What do traders expect when they see this pattern in the market? - ProProfs

    What do traders expect when they see this pattern in the market?

    • Divergence

    • A continuation

    • A reversal

    • Consolidation

    Correct Answer
    A. A reversal
    Explanation
    Traders expect a reversal when they see the pattern of divergence in the market. Divergence occurs when the price of an asset moves in the opposite direction of an indicator, such as a technical oscillator. This indicates a potential shift in market sentiment and a possible reversal of the current trend. Traders interpret divergence as a signal to anticipate a change in price direction and adjust their trading strategies accordingly.

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  • 10. 

    What good habits do successful traders have

    • They master one strategy

    • They stick to a well developed Trading plan

    • They stick to "Revenge trading"

    • They never stop learning

    • They find multiple confirmations before entering a trade.

    • All of the above

    Correct Answer(s)
    A. They master one strategy
    A. They stick to a well developed Trading plan
    A. They never stop learning
    A. They find multiple confirmations before entering a trade.
    Explanation
    Successful traders have several good habits that contribute to their success. Firstly, they master one specific trading strategy, allowing them to become experts in that particular approach. Secondly, they adhere to a well-developed trading plan, which helps them maintain discipline and consistency in their trading decisions. Thirdly, they never stop learning, continuously seeking new knowledge and skills to improve their trading abilities. Lastly, they find multiple confirmations before entering a trade, ensuring they have sufficient evidence and analysis to support their decision. These habits collectively contribute to their success in the trading industry.

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Quiz Review Timeline (Updated): Mar 22, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 22, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Aug 11, 2019
    Quiz Created by
    Romario_wilkinso
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