HDFCLIFE,Triple Top
KEY TAKEAWAYS
A triple top is formed by three peaks moving into the same area, with pullbacks in between.
A triple top is considered complete, indicating a further price slide, once the price moves below pattern support.
A trader exits longs or enters shorts when the triple top completes.
If trading the pattern, a stop loss can be placed above resistance (peaks).
The estimated downside target for the pattern is the height of the pattern subtracted from the breakout point.
A triple top is formed by three peaks moving into the same area, with pullbacks in between.
A triple top is considered complete, indicating a further price slide, once the price moves below pattern support.
A trader exits longs or enters shorts when the triple top completes.
If trading the pattern, a stop loss can be placed above resistance (peaks).
The estimated downside target for the pattern is the height of the pattern subtracted from the breakout point.
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