Tripple Top and Tripple Bottom strategy!
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Thread: Tripple Top and Tripple Bottom strategy!

  1. #1

    Tripple Top and Tripple Bottom strategy!

    This strategy is same as double top/double bottom strategy. Where we either connect THREE HIGHS (TOPS) and THREE LOWS (BOTTOMS) which are either acting as a support or resistance depending on the market and the pair and previous resistance/support.

    His is a good trading strategy and risk reward is minimum 1:1 and you can extend to further 1:2 or more depending on the previous trend. Trend if your friend is also sometimes plays important parts.

    I will be sharing my new and also old charts , and you can learn from it and use it to daily basis to find this formation on different time frames of different charts.

  2. #2
    Join Date
    Sep 2013
    I think we all need to analyse the technical part of the market's price movement and we need to develop a winning strategy. A forex trader have to keep attention on different strategy, triple top or triple bottom strategy could be a way to earn money from the forex trading but we have to practice them in demo account first.

  3. #3
    TRIPLE TOP: Old chart, dated 16/11/2013

    This chart was of NZDJPY analyzed in the daily time frame. I just used trendlines here but after analyzing i found that it would form a TRIPLE top , which is very very effective too. And for my targets i used the upwards direction inner trendline which made green pips for me.

  4. #4
    Tripple Top, OLD CHART. Chart date: 19th Nov 2013

    This is CHF/JPY daily chart and you can see that market formed a double bottom pattern and it also formed a double top pattern before . ANd now its again on the resistance and could form TRIPPLE TOP pattern but maybe it could break that too. So if we find some good candle showing good/buy sell opportunity with low risk and high reward.

  5. #5
    Tripple Bottom: Old chart Date 18/11/2013

    This chart was of AUD NZD whose daily candle touched the key support. Actually it was a quadraple bottom because market had already touched the support 3 times and now it was touching 4th time. In this chart i showed the take profit which was 3x-5x bigger than the stop loss . And if had broken the support it could become the new resistance for the market.

  6. #6
    4th time TOP:

    Pair : GBP USD
    Timeframe: WEEKLY
    You can see clearly that the market is near a strong resistance area forming a 4th TOP . This is a strong resistance area around 1.6250 region. Price rejected this resistance several time previously.
    We need to observe the price in this area, if we have another good rejection from this area then a bearish movement is expected target 1.6060 followed by 1.5900.
    But a successful breakout of this area will make this scenario invalid.

  7. #7
    Old chart, dated 20/11/2013

    This is a very simple chart with trendlines in it . I have just drawn the outer trendline which is facing upwards direction. Its NZDJPY pair in the daily time frame and you can see that a triple top is forming so i am mixing the trendline with it to set my take profits accordingly.

  8. #8
    Quote Originally Posted by newentry View Post
    i still do not understand with this system, can you please give the way to know or to indicate the situation then we know that we are on tripple top or bottom ? and also for another pattern, because forex trading is a dynamic business and so hard to predict it,
    Well, you can easily see , that triple top is like a resistance for the pair. The market of that pair rejects the region 3 times then it is called triple top.
    Whereas , triple bottom is like a resistance for the pair. The market of that pair reject the support region 3 times , then it is called triple bottom.
    You can see my charts shared above for clear information.

  9. #9
    This chart is of GBP/NZD pair analyzed in the weekly time frame. You cansee that the price rejected the support which was touched already 2 times before. Now if price rejects this area , then this would be called a TRIPLE TOP formation in the GBPNZD weekly time frame. Keep this chart before deciding buy/sell in this particular pair.

  10. #10
    Very interesting. I want to ask you some points. What's the difference with head and shoulder strategy? How do I identify between both of these strategies, or both strategies is the same although they are different names? I also consider this strategy is similar with breakout strategy 123. Thank you for the explanation.

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