Triple Top in MODERNAThose who have early access to my trading ideas have the chance to perform better.
Don't you believe it?
Check my recently private post:
Road Map for next week earning call!
If you have the stock better have a tight stop loss or exit plan!
watch the stock closely for the short opportunity, since the market did not respond well to earning reports in the last 2 weeks!
Evaluate the possible scenarios:
1- What Is a Triple Top?
A triple top is formed by three peaks moving into the same area, with pullbacks in between.
A triple top is considered complete, indicating a further price slide, once the price moves below pattern support.
A trader exits longs or enters shorts when the triple top completes.
If trading the pattern, a stop loss can be placed above resistance (peaks).
The estimated downside target for the pattern is the height of the pattern subtracted from the breakout point.
www.investopedia.com
2-What Are Three Inside Up/Down?
Three inside up and three inside down are three-candle reversal patterns that appear on candlestick charts. The pattern requires three candles to form in a specific sequence, showing that the current trend has lost momentum and a move in the other direction might be starting.
www.investopedia.com
3-Trading value!
When prices reach new highs (or no lows) on decreasing volume , watch out; a reversal might be taking shape.
The constant decrease in trading value from 9.5 billion to 1.5 billion in the last 4 months.
www.investopedia.com
4- Bearish harmonic pattern
www.investopedia.com
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