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    Simple Trading Book

    Uploaded by

    YANESKA
    The document discusses several reversal patterns in technical analysis including the double top, double bottom, triple top, and triple bottom patterns. A double top forms after an asset reaches a high price twice with a moderate decline in between, while a double bottom resembles a W shape at the bottom of a downtrend. A triple top occurs when an asset hits three peaks at nearly the same price level, and a triple bottom shows three roughly equal lows bouncing off support.

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    Simple Trading Book

    Uploaded by

    YANESKA
    433 views25 pages
    The document discusses several reversal patterns in technical analysis including the double top, double bottom, triple top, and triple bottom patterns. A double top forms after an asset reaches a high price twice with a moderate decline in between, while a double bottom resembles a W shape at the bottom of a downtrend. A triple top occurs when an asset hits three peaks at nearly the same price level, and a triple bottom shows three roughly equal lows bouncing off support.

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    Simple_trading_book (2)

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    The document discusses several reversal patterns in technical analysis including the double top, double bottom, triple top, and triple bottom patterns. A double top forms after an asset reaches a high price twice with a moderate decline in between, while a double bottom resembles a W shape at the bottom of a downtrend. A triple top occurs when an asset hits three peaks at nearly the same price level, and a triple bottom shows three roughly equal lows bouncing off support.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    433 views25 pages

    Simple Trading Book

    Uploaded by

    YANESKA
    The document discusses several reversal patterns in technical analysis including the double top, double bottom, triple top, and triple bottom patterns. A double top forms after an asset reaches a high price twice with a moderate decline in between, while a double bottom resembles a W shape at the bottom of a downtrend. A triple top occurs when an asset hits three peaks at nearly the same price level, and a triple bottom shows three roughly equal lows bouncing off support.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 25

    Double Top

    What Is a Double Top? A double top is an


    extremely bearish technical reversal
    pattern that forms after an asset reaches a
    high price two consecutive times with a
    moderate decline between the two highs. It
    is confirmed once the asset s price falls
    '

    below a support level equal to the low


    between the two prior highs.
    Double Bottom

    The double bottom pattern is a bullish


    reversal pattern that occurs at the bottom of
    a downtrend and signals that the sellers, who
    were in control of the price action so far, are
    losing momentum. The pattern resembles
    the letter “W” due to the two-touched low
    and a change in the trend direction from a
    downtrend to an uptrend.
    Tripl Top

    The triple top pattern occurs when


    the price of an asset creates three
    peaks at nearly the same price level.
    The area of the peaks is resistance.
    The pullbacks between the peaks are
    called the swing lows.
    Tripl Bottom

    2 Bottom 3 Bottom
    1Bottom

    A triple bottom is a visual pattern that


    shows the buyers (bulls) taking control
    of the price action from the sellers
    (bears). A triple bottom is generally
    seen as three roughly equal lows
    bouncing off support followed by the
    price action breaching resistance.

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