Triple Top Reversal Chart Pattern Video Lecture - Chart Pattern Trading

good afternoon everyone this is
Christian with perfect stock alert calm
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can't say that today we're gonna be
looking at the triple top reversal chart
pattern this is a reversal from an
uptrend to a downtrend it is a peaking
formation its reversal what you have to
have in order to get that is an uptrend
back here you have it yourself in this
little uptrend right here and you come
up and you hit the first one you don't
even notice it because every you know
option has high points goes back down
that's quite normal and then bounces up
there again moves around a little bit
and hits that resistance level again and
pull us back down a little bit let's
back down and bounce up there and does
it again at that same rough level and
falls back down to support and this time
breaks down this creates the triple top
reversal chart pattern this is actually
quite tough to spot because it will look
like different things along the way as
its developing the first thing you're
gonna notice it could have been a
formation like this right you would have
seen an ascending triangle or a flag
pattern just from the H could have seen
there and clear that up a bit in the
early phases you could have seen the
first hit and second and thought you
were seeing a double top reversal and
finally it turned into a triple top now
regarding the triple top it doesn't have
to be to the penny and this high was
1994 so the second and third don't have
to be 1994 in fact I've never seen the
triple top that actually ever came when
we were close to it's just within range
of big new triple top there's obviously
a resistance level right here and price
keeps bumping against it and fallen away
bumping against it and phone away and
then bumping against a third kind of
falling away it doesn't actually
complete his formation until price
closes below support the lowest point of
it could be this one could be this one
whichever point is the lowest between
those those
Crofts or valleys that on the sell out
those Peaks performed that becomes your
support line and that will also be the
point that you look for when price falls
below that the support has broken down
like you saw right here and then you can
also see and move back up to test that
support and they'll be seen that it's
acting as resistance and then she begins
to move lower again you can also use the
high point of the triple top down to
support measure that distance and that's
roughly the target from the break down
for how low you expect price to fall and
you can basically use it as a guide or a
target however if the triple top
reversal pattern is taking a very long
time to form say six months then your
targets are not going to be a lot of
help because something of that size is
likely to be a major topping signal as
opposed to something so I've been
forming for three months so I'm like
that alright it should also be noted
that volume in this particular chart
pattern is not a paramount doesn't have
to be any particular way you would like
to see an increase volume behind the
breakdown or the breakout or price falls
below the support line here but doesn't
have to be because it's say a reversal
from a bullish trend to a bearish trend
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