What is a Triple Bottom?
✍A triple bottom is a bullish price pattern used in technical analysis that is identified by three same level lows by a breakout above the resistance line.
What Does a Triple Bottom Tell You?
✍The triple bottom price pattern normally follows a long bear phase where bears are dominating the market.
✍While the first low maybe be normal price action, the second bottom is signal of the buyers gaining dominance and preparing for a possible uptrend.
✍The third bottom confirms that there is strong support level for the bulls and breakout above the resistance confirms the long.
Confirmations of triple top pattern
✍There should be a contemporary bear phase in place before the pattern forms. The three lows maybe almost equal in price.
✍The volume should rise as the price breaks the last resistance level.
How to Trade a Triple Bottom
✍The triple bottom pattern should be traded on long or bullish side in stock/index.
✍The stop loss of the trade has to be put at low of pattern and the target should be double the size of low to breakout level.
✍A triple bottom is a price pattern that shows the bulls taking control over the price action from the bears.
✍A triple bottom is normally anticipated as three same lows bouncing off support level followed by the price action from resistance level.
✍The confirmation of triple bottom is seen as a good time to enter a long trade.
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