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Triple top /Double top and triple bottom/Double bottom

Discussion in 'Technical Analysis' started by verenmitter2001, Mar 8, 2013.

  1. verenmitter2001

    verenmitter2001 Member

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    Hi shabbir
    What does this kind of patter tell
    Triple top
    Triple bottom
    Double top
    Double bottom

    As they are widely used.

    Please tell us about these pattern

    Regards
    Veren
     
    verenmitter2001, Mar 8, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Triple top and double top or M shows weakness and triple bottom and double bottom or W shows strength.
     
    shabbir, Mar 8, 2013
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  3. csnatu

    csnatu New Member

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    Triple top

    Hi Shabbir.
    I am new in this field ,so pl correct me if I am wrong.

    You have said that double, triple top means weakness.after double top triple top can take place,so that weakness may be temporary before happening triple top? and in that case stock can form triple top which higher than previous two tops.
     
    csnatu, Mar 8, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    Instead of going into theory let us take a chart and then discuss. Just pick any chart where you have confusion and I will be more than happy to help. Make sure you have read pages 71 of the ebook as well
     
    shabbir, Mar 8, 2013
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  5. m_padmakumar

    m_padmakumar Member

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    Hi Shabbir,

    But what I have seen is triple top or double top stocks are those in uptrend and triple bottom and double bottom are in downtrend!! Pl. refer charts of stocks mentioned in chartink.com as triple top and triple bottom stocks...
    Also brekout happens normally on triple top or double top shares.
    Correct me pl. if I am wrong.

    Thanks
     
    m_padmakumar, Mar 8, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    No you are getting confused with W and M

    M is double top and W is double bottom.

    I will suggest you to clear confusion with one option at a time.

    Read the chart on page 71 and 72 and that would explain double top, double bottom

    For triple top see this

    http://shabbir.in/support-resistance/ especially the chart

    [​IMG]

    I hope this helps.
     
    shabbir, Mar 8, 2013
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