The triple peak is turning a model consisting of three equal maxima, accompanied by a break below the support. In contrast to the triple foundation, triple tops are usually formed over a short period of time. In general, the grounds need more time for its formation than the top. First, we explore some of the models and then consider the example
1. Previous trend: As with any turning model to be the trend for the preceding turn. In the case of the triple peaks, should be upward trend or long-term lateral trading range. In some cases it will be a pronounced upward trend, which should turn. In other cases, the rising trend is giving way to a long range side-commerce.
2. Three maximum:: All three of the maximum should be fairly equal among themselves, are well separated and celebrate significant turning points. Max does not necessarily have to be absolutely equal, but should be relatively equal to each other.
3. Volume: As a triple peak, the full amount is usually reduced. The amount is sometimes increased to their maximums. After the third peaks increased during the subsequent decline and with the break of support greatly improves the reliability of the model.
4. Breakthrough support: As with many other models, turning, triple node is completed before the break of support. The lowest point of formation, which is the lowest minimum of the intermediate cuts, said a key support level.
5. Support becomes resistance Subject: support becomes potential resistance, and sometimes going on testing this new level of resistance with the subsequent reaction rally.
6. Objective: The distance from the break of support to the maxima can be measured, and deferred to the level of support for a breakthrough goal of the subsequent decline.
The longer a model, the more significant will be the final breakthrough.
During the formation of the triple peaks, the model can begin to resemble a variety of models. Before the third peak is formed, the model may resemble a double peak. Three equal the maximum can also be found in the ascending triangle or rectangle. Of all these models, only the ascending triangle is bullish context, while others are neutral until a breakthrough occurs. Accordingly, the triple peak should also be seen as a neutral model, until a breakthrough support. The failure to break above resistance shows the potential effect of bears, but bears have not yet won the confrontation, has not yet broken the level of support. The volume of the last reduction of resistance can sometimes communicate the necessary information. If there is a sharp increase in the volume and momentum, the probability of a breakthrough support increases.
If you are looking for models, it is important to understand that technical analysis is more an art and less science. Interpretation of models must be sufficiently certain, but not to require excessive precision in order not to obscure the spirit of the model. The model may not correspond to the theoretical description, but this should not reduce its oshibkoustoychivosti. For example: it can be difficult to find a triple top with three maxima, which would be absolutely equal. However, if the peaks are located within reasonable proximity, and other aspects of technical analysis complement the picture, it is consistent with the spirit of the triple peaks. The spirit is triple tops in three attempts to test the resistance, accompanied by a break below the support, confirming the amount. Schedule "Rockwell automation", shown above, illustrates an example of a model "triple vertex, which does not correspond exactly to classical theoretical description, but captures the basic spirit of the model.
. The market is in an upward trend and has remained above trend line extending from October 1998. to break at the end of August 1999.
. For about 4 months, the price bounce off the resistance, which is approximately 23. The first attempt occurred in May, the second in July and the third in August. The third attempt was the weakest and the price is not reached through the resistance of 1.19 points, or approximately 1.8%.
. The decline from the third vertex has violated the support trend line, and the price continued to decline by support from the previous minima. Supporting the triple peaks should be held to the lowest wage model, which was marked in May by about 54.50.
. The volume increased after the price broke the support trend line. The market paused for a few days, when support for the 54.50 was achieved, but the level of accelerated growth when the level of support has been broken (gray dotted line). In addition, the Chaikin Money flow has been negative and broke below the value of -10%.
. After a break of support, a few weeks later, there has been testing newly-level resistance. Cash flow continued to point to an influx of offers for sale, and the volume increased when prices start to fall again.
. The planned reduction in size was 9 points, and the price has reached that goal soon after testing resistance.
1. Previous trend: As with any turning model to be the trend for the preceding turn. In the case of the triple peaks, should be upward trend or long-term lateral trading range. In some cases it will be a pronounced upward trend, which should turn. In other cases, the rising trend is giving way to a long range side-commerce.2. Three maximum:: All three of the maximum should be fairly equal among themselves, are well separated and celebrate significant turning points. Max does not necessarily have to be absolutely equal, but should be relatively equal to each other.
3. Volume: As a triple peak, the full amount is usually reduced. The amount is sometimes increased to their maximums. After the third peaks increased during the subsequent decline and with the break of support greatly improves the reliability of the model.
4. Breakthrough support: As with many other models, turning, triple node is completed before the break of support. The lowest point of formation, which is the lowest minimum of the intermediate cuts, said a key support level.
5. Support becomes resistance Subject: support becomes potential resistance, and sometimes going on testing this new level of resistance with the subsequent reaction rally.
6. Objective: The distance from the break of support to the maxima can be measured, and deferred to the level of support for a breakthrough goal of the subsequent decline.
The longer a model, the more significant will be the final breakthrough.
During the formation of the triple peaks, the model can begin to resemble a variety of models. Before the third peak is formed, the model may resemble a double peak. Three equal the maximum can also be found in the ascending triangle or rectangle. Of all these models, only the ascending triangle is bullish context, while others are neutral until a breakthrough occurs. Accordingly, the triple peak should also be seen as a neutral model, until a breakthrough support. The failure to break above resistance shows the potential effect of bears, but bears have not yet won the confrontation, has not yet broken the level of support. The volume of the last reduction of resistance can sometimes communicate the necessary information. If there is a sharp increase in the volume and momentum, the probability of a breakthrough support increases.
If you are looking for models, it is important to understand that technical analysis is more an art and less science. Interpretation of models must be sufficiently certain, but not to require excessive precision in order not to obscure the spirit of the model. The model may not correspond to the theoretical description, but this should not reduce its oshibkoustoychivosti. For example: it can be difficult to find a triple top with three maxima, which would be absolutely equal. However, if the peaks are located within reasonable proximity, and other aspects of technical analysis complement the picture, it is consistent with the spirit of the triple peaks. The spirit is triple tops in three attempts to test the resistance, accompanied by a break below the support, confirming the amount. Schedule "Rockwell automation", shown above, illustrates an example of a model "triple vertex, which does not correspond exactly to classical theoretical description, but captures the basic spirit of the model.. The market is in an upward trend and has remained above trend line extending from October 1998. to break at the end of August 1999.
. For about 4 months, the price bounce off the resistance, which is approximately 23. The first attempt occurred in May, the second in July and the third in August. The third attempt was the weakest and the price is not reached through the resistance of 1.19 points, or approximately 1.8%.
. The decline from the third vertex has violated the support trend line, and the price continued to decline by support from the previous minima. Supporting the triple peaks should be held to the lowest wage model, which was marked in May by about 54.50.
. The volume increased after the price broke the support trend line. The market paused for a few days, when support for the 54.50 was achieved, but the level of accelerated growth when the level of support has been broken (gray dotted line). In addition, the Chaikin Money flow has been negative and broke below the value of -10%.
. After a break of support, a few weeks later, there has been testing newly-level resistance. Cash flow continued to point to an influx of offers for sale, and the volume increased when prices start to fall again.
. The planned reduction in size was 9 points, and the price has reached that goal soon after testing resistance.
Forex Magazine
based on www.stockcharts.com
based on www.stockcharts.com
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