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Forex Triple Bottom Chart Pattern

The triple bottom is the opposite of the triple top and is a rare top reversal pattern, which is usually found in down trends.  The trading pattern is characterized by three bottom that are almost equal in height and a trendline (resistance) connecting the highs in the triple bottom.

The pattern is confirmed on a sustained break of resistance. Stops are usually placed below the most recent level of support or the third bottom.

forex-triple_bottom

Forex Triple Bottom Chart Pattern Example (GBP/USD Hourly Chart)

gbpusd-triple-bottom-forexc

Forex Triple Bottom Trading Ideas

Conservative forex traders: wait for a sustained break of the neckline.
Aggressive forex traders: buy in the vicinity of the third bottom. Look for bullish reversal candlestick patterns to enter a low risk – high reward trade with a tight stop loss placed below the third bottom.

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