Showing posts with the label triple-top-forex


TRIPLE TOP AND TRIPLE BOTTOM Triple top and triple bottom are reversal chart patterns used in the technical analysis of stocks, commodites, currencies, and other assets. TRIPLE TOP FORMATION The formation of triple tops is rarer than that of double tops in the rising market trend. The volume is usually low during the second rally up and lesser during the formation of the third top. The peaks may not necessarily be spaced evenly like those which constitute a Double top. The intervening valleys may not bottom out at exactly the same level, i.e. either the first or second may be lower. The triple top is confirmed when the price decline from the third top falls below the bottom of the lowest valley between the three peaks. TRIPLE BOTTOM    SELLING STRATEGY TRIPLE TOP There are several different trading strategies that can be employed to take advantage of this formation. Of course, first and second peaks are perfect point to place sell orders