Triple Top Pattern Explained
In technical analysis the triple top chart pattern can be a possible signal for a reversal lower in price.
A chart pattern or price pattern is a pattern within a chart when prices are graphed. In stock and commodity markets trading, chart pattern studies play a large role during technical analysis. When data is plotted there is usually a pattern which naturally occurs and repeats over a period.
In technical analysis the triple top chart pattern can be a possible signal for a reversal lower in price.
Descending triangle chart patterns The opposing of the ascending triangle is the descending triangle. The upper side of the falling triangle slopes downward as the price makes lower highs, with the bottom of the triangle typically being a flat level of support. This pattern may indicate that support is eroding and that a downward breakout … Read more
The inverted cup with handle is a reversal pattern and momentum sell short signal as it breaks down out of the ‘handle’ in the formation. It is usually a topping pattern after a strong move to the upside signaling the end of an uptrend on a chart. An inverted cup and handle chart pattern ideally … Read more
Chart Facts: Bear Pennant Example Here is an example of a bear pennant that formed on the Bitcoin chart during a downtrend in price. After the clear downtrend in the first half of January a bear pennant formed in the second half of January before the downtrend continued in the first week of February. Price … Read more
The Head and Shoulders Chart Pattern is one of the most popular and bearish patterns in technical analysis. It defines three attempts to make highs and then trend but fail, it precedes many major corrections and bear markets. Chart Facts: The below $GS chart shows a Head and Shoulders pattern that was very fast to … Read more
Chart patterns are specific price formations on a chart that predict future price movements. As technical analysis is based on the assumption that history repeats itself, popular chart patterns have shown that a specific price movement is following a particular formation of price (chart pattern) with high probability. Therefore, chart patterns are grouped into (1) continuation patterns – that signal a continuation in the underlying trend, and (2) reversal patterns – that signal reversal of the underlying trend.
The rounding top chart pattern is a bearish reversal that occurs after an uptrend on a chart. The rounded top is formed after an uptrend in price action stalls out near a peak and goes sideways into a range before slowly going lower to create lower highs and lower lows. The pattern forms a downward … Read more
The Double Top Chart pattern is a reversal pattern that is bearish. This pattern is created when a key price resistance level on a chart is tested twice with a pullback between the two high prices at resistance price level tests. Chart Facts: A double top chart pattern happens at the end of an uptrend that … Read more
Symmetrical Triangle Pattern Chart Facts: The symmetrical triangle is a neutral chart pattern that usually forms during a trend as a continuation pattern of the existing trend. Sometimes a symmetrical triangle pattern will form as a reversal pattern as a trend comes to an end, but they are usually continuation patterns of an existing trend … Read more
Chart Facts: • The ascending triangle is a bullish chart pattern that usually forms during an uptrend as a continuation pattern.• Sometimes an ascending triangle pattern will form as a reversal pattern as a downtrend comes to an end, but they are usually continuation patterns in an uptrend.• Regardless of their location during a trend … Read more