The Butterfly Pattern



Taken by 39 persons

About this Butterfly Quiz


Intermediate level quiz about the harmonic Butterfly pattern. This is an innovative online quiz so you can quickly learn and/or verify your trading skills.

Butterfly allows to spot the exact end of the swings or trends. Butterfly D point is the best place to enter the market. This quiz covers the practical aspects of this pattern and the entry.

Before you Start ...






It takes in average 9 minutes to complete this Quiz.


Answer at least 23 questions (or 75%) correctly to pass.


Let's start

QUESTION 1/30

Trading Butterfly pattern, we should take only these harmonics, which meet very strict Fibonacci criteria:



QUESTION 2/30

The gentleman who defined Fibonacci ratios for the Butterfly pattern was:





QUESTION 3/30

When trading the Butterfly pattern, it is better when price approaches point D:





QUESTION 4/30

It is advisable to combine the Butterfly pattern with Elliot Wave analysis:



QUESTION 5/30

The classical approach with the Butterfly pattern allows us to trade the failed harmonic:




QUESTION 6/30

With the so called 'Fibo cluster', the place where different Fibonacci retracements, extensions, expansions and projections overlap, it is recommended that one should:




QUESTION 7/30

It is practical and necessary to use all of the different price extensions/expansions/projections etc. :



QUESTION 8/30

Which of the extreme Butterfly patterns resembles the letter “M”:




QUESTION 9/30

The Butterfly pattern can be treated as a leading indicator that helps to determine where and when to enter a position.



QUESTION 10/30

The Butterfly pattern may help to identify potentially high-probability trading opportunities, in nearly every market and timeframe.



QUESTION 11/30

The Gartley pattern is an the internal pattern, whilst the Butterfly is an external pattern.



QUESTION 12/30

Bryce Gilmore defined, in his book, the strict trade management rules for trading the Butterfly pattern.



QUESTION 13/30

The bullish Butterfly pattern is such a reliable price pattern, when trading Forex, that there is no need to place a Stop Loss when entering a trade. The Stop Loss can be set a bit later, preferable around the 200% external retracement of the XA swing:



QUESTION 14/30

Waiting for a clear reversal candlestick setup/pattern improves the success ratio and R:R ratio when trading the Butterfly pattern:




QUESTION 15/30

Trading small Butterfly patterns works better than trading bigger ones (in terms of swing pip size):



QUESTION 16/30

The internal structure of the Butterfly CD swing is not important for professional harmonic traders if/until the pattern meets all Fibonacci relations:



QUESTION 17/30

A failed Butterfly pattern can be traded in the same way as a normal Butterfly and offers the same probability of success and R:R:




QUESTION 18/30

There are two types of Butterfly patterns -continuation and reversal:



QUESTION 19/30

The Butterfly pattern can be drawn as a mirror image, of the Gartley pattern:



QUESTION 20/30

Which point of the Butterfly pattern allows us to spot the pattern in advance, differentiating it from other harmonic patterns:





QUESTION 21/30

A Potential Reversal Zone (PRZ) is not used for trading the Butterfly pattern:.



QUESTION 22/30

The PRZ concept applies to price, not time:



QUESTION 23/30

The external retracement tool should be used to locate which of the following Butterfly points:





QUESTION 24/30

A failed Butterfly pattern might still form a tradable Bat pattern:



QUESTION 25/30

Which trading session is the best for trading the Butterfly pattern:





QUESTION 26/30

Which timeframe is the best for trading the Butterfly pattern:





QUESTION 27/30

The points of the Butterfly pattern are:





QUESTION 28/30

The minimum target price of the bullish Reversal Butterfly pattern is higher than:




QUESTION 29/30

The bullish Continuation Butterfly pattern belongs to the XABCD family of patterns:



QUESTION 30/30

Observing the structure of CD swing in the Butterfly pattern we can split Butterfly patterns into Slow and Aggressive versions. Aggressive versions are more common on Forex market.



Check Answers status


This just shows if you have provided all the answers or something is still missing.

Please proceed to the next page to access your quiz result.


1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

Green color=question answered

Red color=question NOT answered

Review and Submit your answers

You have completed the harmonic Butterfly pattern - intermediate level Quiz

If you wish, you can still review and modify your choices.


There are two ways to proceed now:

- you can leave the Name and Email fields empty, just type the Captcha and directly press the button below to see your quiz score, or

- you can provide your email address so we can review your responses and send you a detailed analysis of your quiz responses. Based on your score, our team of harmonic-experienced traders may include some additional suggestions and trading tips in the feedback.

    Name:

    Email :

    Captcha:

    		*

Will you promote us?

  • If you liked the Quiz and learned something new, please help us to promote it on Facebook and Twitter. It costs you nothing but means much to us.

  • You can also publish the direct link to this quiz (including your referral id). You received it in the email together some more details on the Referral Program.



...anyway, in both cases, to say thanks we will also grant you access to our special,yet-unreleased materials (more details will be provided by email).

Beginner, Intermediate and Advanced

  • This Butterfly pattern related quiz is one part of a three-part series. Check out the harmonic Butterfly pattern Intermediate and Advanced level quizes. Direct links to be provided to people who successfully complete this Beginner level Quiz.

    You may also like to check the Gartley quizes, the available beginner, intermediate and advanced levels.

About the Authors

TradingArsenal is Community of harmonic trading, price patterns and market timing experts. This is where the pattern recognition indicator korHarmonics and AMP search engine come from.

After many years spent researching Forex charts, we concluded that repetitive harmonic market fractals, patterns with precisely located price levels and timed entries is the way to GO.


You can contact and follow us in multiple ways:

Become our partner

If you would like to become our Partner contact us using the Contact Form

The END




prepared by TradingArsenal, the Experts

Click to re-start the Quiz...
ver 0.3