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Triple Bottoms and best trading strategy

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best forex

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Triple Bottoms and best trading strategy


Published by bestsignals on October 27, 2018


Downward price trend
 The short-term price trend leading to the triple bottom is down.



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.



Confirmation
 Price must confirm the triple bottom by closing above the highest peak between the three bottoms.



Triple bottoms are three valleys that bottom near the same price. The chart pattern acts as a bullish reversal of the downward price trend.



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



If the middle peak of an alleged triple bottom is significantly below the other two, then it is probably a head-and-shoulders bottom.



best trading strategy for Triple Bottoms



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).



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.



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.



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#1 - October 30, 2018, 11:25:37 AM
« Last Edit: February 02, 2019, 03:57:14 AM by Admin »

aizafx

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Good system trading must be following the main rules and be practicing with discipline, will less quality if already found profitable system trading but they can't discipline to implemented system trading rules
#2 - February 03, 2019, 01:30:02 PM

Fxortrader

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by having a good system, if disciplined in its application it will produce good profits too.
#3 - February 03, 2019, 05:32:28 PM
« Last Edit: February 03, 2019, 05:54:59 PM by Admin »

Nendi71

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like this this strategy is easy to learn and practice
#4 - February 03, 2019, 08:08:25 PM

nawwa thalorenz

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Good night guys, very good trading system that you share, this I remember before there was a master trader who used this system, by connecting three points of price resistance and also the price of a ticket to look for entries with this system, I see the accuracy is very good, rarely once it seems to fail, but of course there will certainly be a failure maybe around 20% of entries have been done. thank you
#5 - February 06, 2019, 01:31:50 PM

Rendy94

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I have another view for this technique, and a triple bottom is very rarely found, a triple bottom when viewed from a large TF like a 3 doji, and indeed the same as a double bottom must wait for the neckline confirmation to be broken first and then we can open a position
#6 - February 06, 2019, 01:41:37 PM

Rendy94

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Quote from: nawwa thalorenz on February 06, 2019, 01:31:50 PM
Good night guys, very good trading system that you share, this I remember before there was a master trader who used this system, by connecting three points of price resistance and also the price of a ticket to look for entries with this system, I see the accuracy is very good, rarely once it seems to fail, but of course there will certainly be a failure maybe around 20% of entries have been done. thank you
the failure that I experienced while using this technique was mostly a false break which caused the price to break down again while some traders were too sure to make a transaction, for me the best break was a body candle, not a shadow
#7 - February 06, 2019, 01:44:05 PM

ariezz

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Triple bottom is one of the chart patterns that can be used to make transaction decisions. Triple bottom is known to be quite accurate, although it is rarely found but if the pattern is found it will be an accurate indicator pattern.
#8 - February 06, 2019, 02:02:12 PM

Eza Jordan

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Very good technical knowledge, I will try to use it tomorrow, when I get the form of a market that connects 3 points of resistance and support, surely it will get extraordinary results, hopefully becoming technical that can bring consistency in daily trading. I am waiting for the triple buttom update for tomorrow if you find a setup that matches this technical knowledge ...
#9 - February 06, 2019, 04:51:29 PM

Tahajud

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A little picture of triple bottom pattern, so it is easier to learn and understand
Triple Bottoms and best trading strategy in General Forex Discussion_triple-bottom-chart-pattern
#10 - February 07, 2019, 03:16:42 AM

jonforex

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Quote from: Tahajud on February 07, 2019, 03:16:42 AM
A little picture of triple bottom pattern, so it is easier to learn and understand
Triple Bottoms and best trading strategy in General Forex Discussion_triple-bottom-chart-pattern
With we can understand some candel patterns, indeed we trade very helpful. Moreover, we can indicate double top or double bottom. Then the capital that we manage can grow rapidly.
#11 - February 07, 2019, 04:51:37 AM

Tahajud

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Quote from: jonforex on February 07, 2019, 04:51:37 AM
With we can understand some candel patterns, indeed we trade very helpful. Moreover, we can indicate double top or double bottom. Then the capital that we manage can grow rapidly.
with this pattern we can place risk limits at the end of the candle or shadow candles. Because if the price can penetrate the shadow candle of this pattern, it is likely that this pattern will fail or not be formed



#12 - February 08, 2019, 01:53:31 PM

MonsterFX

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Quote from: Tahajud on February 07, 2019, 03:16:42 AM
A little picture of triple bottom pattern, so it is easier to learn and understand
Triple Bottoms and best trading strategy in General Forex Discussion_triple-bottom-chart-pattern
my favorite reversal pattern, I often use this pattern to make a profit, and often succeed when I use this pattern.
#13 - February 11, 2019, 02:52:53 PM

Sansan

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triangular bottom is very rare but very accurate too.
#14 - October 11, 2019, 09:15:55 AM

Billy Atkinson

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triple bottom and triple top are usually used as accurate references because siganl like this is rarely found also has a good level of profit accuracy.
#15 - September 30, 2020, 06:21:22 AM
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