TRIPLE TOP
Hello everyone
Today I want to share with you a figure of technical analysis called the TRIPLE TOP.
This figure occurs quite often and brings excellent profit.
What does it look like?
The figure looks like three maxima, approximately at the same level.
These peaks are formed because the buyers' forces are drying up and with each new peak, the bears are getting stronger.
Very often, the third peak will be higher than the previous two - this is the last gasp of buyers, before capitulation.
How to trade?
The main criterion is the formation of three peaks, after a strong uptrend.
After that, the price makes the last spurt (the third peak) and breaks through the support.
This breakout is the first possible entry point.
Often you will observe how the price makes a retest of the level, after which it turns down.
The second possible entry point will be this retest of the level.
To calculate the potential profit point, you need to measure the height from the minimum to the maximum of the vertices.
This value, plotted below the breakout, will be a potential profit point.
The stop loss is set above the maximum of the vertices.
Conclusion
The figure is very profitable and often found.
In addition, you can find a triple bottom on the chart, which trades in the same way as a triple top, only in the opposite direction.
Very often, after a triple top, a strong downtrend begins and holding a part of the position can bring big profits.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩
Today I want to share with you a figure of technical analysis called the TRIPLE TOP.
This figure occurs quite often and brings excellent profit.
What does it look like?
The figure looks like three maxima, approximately at the same level.
These peaks are formed because the buyers' forces are drying up and with each new peak, the bears are getting stronger.
Very often, the third peak will be higher than the previous two - this is the last gasp of buyers, before capitulation.
How to trade?
The main criterion is the formation of three peaks, after a strong uptrend.
After that, the price makes the last spurt (the third peak) and breaks through the support.
This breakout is the first possible entry point.
Often you will observe how the price makes a retest of the level, after which it turns down.
The second possible entry point will be this retest of the level.
To calculate the potential profit point, you need to measure the height from the minimum to the maximum of the vertices.
This value, plotted below the breakout, will be a potential profit point.
The stop loss is set above the maximum of the vertices.
Conclusion
The figure is very profitable and often found.
In addition, you can find a triple bottom on the chart, which trades in the same way as a triple top, only in the opposite direction.
Very often, after a triple top, a strong downtrend begins and holding a part of the position can bring big profits.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩
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