Triple tops and triple bottoms are very similar to the head & shoulder patterns. The simple difference is that triple tops and bottoms are formed with three triangles that are of equal height.
This is clearly different from head & shoulders, which requires one larger triangle to be formed in the middle. The triple top and bottom patterns are interpreted in the same way as head & shoulder patterns.
When a triple top is formed, it is assumed that the market will go down. Likewise, when a triple bottom is formed, it is assumed that market will go up.
Triple tops and triple bottoms are not seen regularly in the stock market as they signify the reversal of a trend. This doesn’t happen often as up or down trends can last for several months, if not years.
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