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Author Topic: Triple Bottoms and best trading strategy  (Read 759 times)

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Offline best forexTopic starter

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Triple Bottoms and best trading strategy
« on: October 30, 2018, 10:49:27 AM »
Triple Bottoms and best trading strategy
[/color]Published by bestsignals on October 27, 2018[/size]
[/color]Downward price trend
 The short-term price trend leading to the triple bottom is down.
[/size]
[/color]Three bottoms
 Three minor lows are involved in a triple bottom. Sometimes they can be one-day price spikes or
 wider, more rounded turns. Each valley tends to look similar to the others.
 Same price
 Each minor low should bottom near the same price. Rarely will all three bottom at exactly the same price, so be flexible.
[/size]
[/color]Confirmation
 Price must confirm the triple bottom by closing above the highest peak between the three bottoms.
[/size]
[/color]Triple bottoms are three valleys that bottom near the same price. The chart pattern acts as a bullish reversal of the downward price trend.[/size]
[/color]Price must trend downward into a bottom and upward into a top. That trend is what qualifies the chart pattern as a bottom or top, respectively. Without the trend, then you do not have a reversal pattern[/size]
[/color]If the middle peak of an alleged triple bottom is significantly below the other two, then it is probably a head-and-shoulders bottom.[/size]
[/color]best trading strategy[/url] for Triple Bottoms[/font][/size]
[/color]Wait for confirmation
 Since most triple bottom formations continue heading down,
 always wait for price to rise above the highest high reached in
 the formation (the confirmation point).
[/size]
[/color]Wait for throwback Almost two-thirds of the formations throw back to the breakout
 price, so consider waiting for the throwback before investing or
 adding to your position.
[/size]
[/color]take profit
 Compute formation height from highest high to lowest low in
 the formation. Add the height to the highest high. The result is
 the expected minimum price move.
[/size]
BEST forex signals  presents free forex trading signals live with Entry, Take Profit and Stop Levels. The best free forex signals send via email, website, SMS, WhatsApp from www.best-forexsignals.com


 

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