As of 09/09/2024   Indus: 40,830 +484.18 +1.2%     Trans: 15,635 +208.10 +1.3%     Utils: 1,040 +11.07 +1.1%     Nasdaq: 16,885 +193.77 +1.2%     S&P 500: 5,471 +62.63 +1.2% YTD  +8.3%   -1.7%    +17.9%    +12.5%    +14.7% Overview: 08/14/2024     42,000 or 39,500 by 09/15/2024   16,200 or 15,300 by 09/15/2024   1,100 or 1,000 by 09/15/2024   18,400 or 16,650 by 09/15/2024   5,750 or 5,375 by 09/15/2024
 As of 09/09/2024   Indus: 40,830 +484.18 +1.2%     Trans: 15,635 +208.10 +1.3%     Utils: 1,040 +11.07 +1.1%     Nasdaq: 16,885 +193.77 +1.2%     S&P 500: 5,471 +62.63 +1.2% YTD  +8.3%   -1.7%    +17.9%    +12.5%    +14.7% Overview: 08/14/2024     42,000 or 39,500 by 09/15/2024   16,200 or 15,300 by 09/15/2024   1,100 or 1,000 by 09/15/2024   18,400 or 16,650 by 09/15/2024   5,750 or 5,375 by 09/15/2024

# Bulkowski's Northwest Pipe (NWPX) 2 Trading Quiz

Released 3/29/2022.

## NWPX 2: 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 / 3

What chart patterns can you find? Look for the following (if you find others, great!): descending triangle, symmetrical triangle, triple bottom (hint: middle of chart), ascending scallop.

The answer is on the next slide.
2 / 3

Points 1, 2, and 3 are the triple bottom. Bottom 2 is composed of two minor lows. You might want to draw a horizontal line along the bottoms and an up-sloping trendline along the tops and call it a broadening top, right-angled and ascending. The descending triangle has broken out downward on very high volume.

Question 2: What is your price target?
Question 3: What is your stop loss price?
See the next slide for answers.
3 / 3

Answer 2 (target?): Use the measure rule to predict a price target. Take the height of the triangle (highest high to lowest low in the pattern) and subtract the height from the breakout price - the price where it breaks the lower trendline. That places the target at 18.95.

Answer 3 (stop?): You can't use the top of the pattern as a stop because it's 15% away. That's too far. I'd place it at 22.51, which is 9% away. I show the location just above A.

Price made the type of chart pattern that I look for: A downward breakout from the descending triangle that busts when price breaks out upward. They usually lead to a strong rally, as in this case.

The End.

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