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What is a triple bottom pattern in technical analysis?
A triple bottom is a classic forex reversal pattern that signals a bearish trend is likely ending and a bullish reversal is underway. It consists of three successive lows (troughs) at roughly the same price level, with intervening rallies that hit a similar high (forming a horizontal resistance line). In simpler terms, the market tries to push lower three times, finds a floor each time, and eventually buyers gain enough strength to drive the price upward through a key resistance. This pattern is considered a bullish reversal formation because it flips a downtrend into a new uptrend once confirmed. Triple bottoms are ... (full story)
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