The triple top is a reversal pattern made up of three equal highs followed by a break below support. A pattern used in technical analysis to predict the reversal of a prolonged uptrend. This pattern is identified when the price of an asset creates three peaks at nearly the same price level. The bounce off the resistance near the third peak is a clear indication that buying … [Read more...]
Support and Resistance
Support and resistance represents key junctions where the forces of demand and supply meet. In the financial markets, prices are driven by excessive supply (down) and demand (up).As demand increases, prices advance and as supply increases, prices decline. When supply and demand are equal, prices move sideways as bulls and bears slug it out for control. What Is Support? The … [Read more...]