What is a triple bottom pattern in technical analysis?

The triple bottom pattern is a technical chart pattern that indicates a potential reversal of a downtrend. It is formed by three consecutive lows at roughly the same price level, with two intermediate peaks. A breakout above the neckline of the pattern signals a potential bullish trend.

How do you identify a triple bottom?

A triple bottom is identified by three distinct lows at a similar price level, with two intermediate highs in between. The neckline is drawn by connecting the two peaks. The pattern is confirmed when the price breaks above the neckline, signaling a potential uptrend.

How reliable is the triple bottom pattern?

The triple bottom pattern is generally considered a reliable bullish reversal pattern, but like all technical analysis patterns, it is not foolproof. Traders often use additional indicators, such as volume or momentum oscillators, to confirm the breakout and reduce the risk of false signals.

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What is TRIPLE BOTTOM?

TROUGH PRICE

Trough Price represents the lowest price reached during the observed period for a transaction, trade, or portfolio, highlighting minimum value points.

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