Post by rojonihafsa1 on Mar 11, 2024 5:16:00 GMT -5
In classic analysis, a double bottom pattern works only if the trend changes its course and the price grows, if the price reaches the third low, the figure transforms into the triple top pattern. LiteFinance: Forex Patterns: | Litefinance A buy position can be opened when the price has penetrated the resistance line of the figure, reached or pressed through the local high level that preceded the breakout point of the resistance line (buy zone). Expected profits should be set when the price has passed a distance less than or equal to the height of any base of the figure (profit zone). A stop order can be placed a little lower than the level of the local minimum, before the breakout of the resistance line (stop zone), however, it is worth remembering that.
The figure often transforms into a triple base pattern and Placing a stop loss very close to the minimum is risky. “Triple vertex” graphic pattern This pattern is a continuation of the "double vertex" pattern. In classical technical analysis, the triple vertex is classified as a trend reversal pattern. This means that the trend that has been in the market before the formation of the pattern may change after its Jamaica Mobile Number List formation is completed. The figure represents three consecutive highs, the peaks of which are approximately at the same level. Most often, the pattern arises after an unsuccessful attempt to implement the double vertex pattern, but the probability of its occurrence is much higher than that of its predecessor. The pattern can be straight and inclined, in the latter case, it must Carefully examine the bases of the tops which should be parallel to the tops.
In classic analysis, a triple vertex works only if the trend reverses and the price declines, if the price reaches new highs, the formation transforms into a triangle or a flag. LiteFinance: Forex Patterns: Most Effective Chart Patterns in Forex | Litefinance A sell position can be opened when the price has penetrated the figure's support line, reached or pressed through the local low level that preceded the breakout point of the support line (sell zone). Expected profits should be set when the price has passed a distance less than or equal to the height of any of the three vertices of the figure (profit zone). A stop loss, in this case, should be placed at the level of the local maximum that preceded the breakout point of the support line (stop zone).