Understanding the Top Triple Patterns in Trading
monarchcb.com - Traders must have been very aware that the type of candlestick pattern that is widely used by traders because of its greater accuracy, is the triple candlestick pattern. In accordance with the theme, so in our review this time we will discuss and explain the maximum triple pattern in forex trading. This pattern is actually not much different from the double maximum. However, the maximum triple has 3 points. The method of identifying confirmation is also the same, namely the breakdown of the base line. Likewise with the method of speculating the target movement after the pattern is confirmed.
In the previous point, we have discussed and practiced forex trading regarding the triple bottom pattern in forex trading, so in this post we continue to practice mastering the maximum triple pattern in forex trading.
A little backwards, traders must have really recognized that the type of candlestick pattern that is widely used by traders because of its greater accuracy, is the triple candlestick pattern. In accordance with the theme, so in our review this time we will discuss and explain the maximum triple pattern in forex trading.
This pattern is actually not much different from the double maximum. It's just that the maximum triple has 3 peaks
The method of identifying the confirmation is also similar, namely the breakdown of the base line. Likewise with the method of speculating the target movement after the pattern is confirmed.
From the picture above it appears that there is a possibility that a pullback will occur to the base from point (7), but it should be noted that this kind of pullback (although quite often) does not always occur. Always, if the base leaks again during the pullback.
The Triple Maximum chart pattern in technical analysis for example in Gold is a pattern used in technical analysis to take into account the retrogression of ideals from a very long uptrend. This Triple Maximum pattern will appear when the price movement of Gold makes
3 shoots that are next to each other, even though they are not exactly the same.
The three bottom points ( canyons ) or maximum points ( peaks ) do not have to be at the same level , but the differences are also not very stark .
In closing, ask to be careful and remember that the maximum triple is a chart pattern created by the presence of 3 similar shoots as a sign that the price has not been able to exceed the highest price first until the top that is formed there are 3 shoots. If there is such a pattern on the chart, then it is a sign that there will be a price retrogression from an uptrend to a downtrend.
Maximum Triple Pattern Identity:
- Intertwined at the end of an uptrend
- The price cannot exceed the highest price first, resulting in 3 peaks
- At the third peak, we observe, if the price drops and holds the support line, then it breaks the support line until a break out occurs.
- We enter SELL or pending instructions (Sell Stop) at the bottom of the bearish break out level
- Do not forget to place a stop loss above the break out level and place a take profit as necessary.
