A triple bottom is a visual pattern in which buyers (bulls) take control of price action from sellers (bears). A triple bottom is defined as three essentially equal lows that bounce off support before breaking through resistance.
When the price of an asset reaches three peaks at almost the same level, this is known as a triple top pattern. Resistance is found in the space between the peaks. The swing lows are the pullbacks between the peaks.
Trading Strategy Using the Triple Bottom Candlestick Pattern. At the end of a downtrend, the triple bottom is a bullish reversal pattern. After three failed attempts by the sellers to break through the support, this candlestick pattern indicates an impending change in trend direction.
A triple top formation is a negative pattern since it stops an uptrend and causes a downward trend change. It takes the following form: Prices rise steadily until they reach a point of resistance, then fall back to a level of support.
Expect a bearish reversal after the three high points of a triple top have established. When the price breaks below the triple top's low point, the bearish reversal chart pattern is confirmed.
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And Traders are i) position trader (ii) Swing Trader (iii) Day trader (iv) Scalper Trader
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