Triple Bottom Reversal Pattern:
-Important: This pattern should be treated as a neutral pattern until it reaches the third bottom point. Before that moment it could form as other patterns such as a double top, a declining wedge, etc.
-If it breaks past the resistance line that is when the trade should be entered.
-If it doesn’t break out, it will continue in a sideways motion.
-Typical time-frame: 3-6 months.
-The volume should spike when it’s breaking the resistance line. At that point the resistance line becomes the support.
★ SUBSCRIBE TO MY YOUTUBE: ★
★ ABOUT TRADERSFLY ★
TradersFly is a place where I enjoy sharing my knowledge and experience about the stock market, trading, and investing.
Stock trading can be a brutal industry especially if you are new. Watch my free educational training videos to avoid making large mistakes and to just continue to get better.
Stock trading and investing is a long journey – it doesn’t happen overnight. If you are interested to share some insight or contribute to the community we’d love to have you subscribe and join us!
STOCK TRADING COURSES:
STOCK TRADING BOOKS: