Bullish
Pattern
type
May 28, 2019
Emerged on
Jun 07, 2019
Pattern confirmed

Statistics

since January 2000

1666

TOTAL # OF PATTERNS

63.45%

CORRECT PREDICTIONS

Calculated by A.I. for all supported tickers and confirmed Triple Bottoms patterns

• with confidence above 70%
• with distance to target price above 5%
 

Triple Bottoms

— — — BR — Breakout line      — — — TR — Target line
pattern image

Triple Bottoms pattern

Triple Bottoms

The Triple Bottom pattern appears when there are three distinct low points (1, 3, 5) that represent a consistent support level. The security tests the support level over time but eventually breaks resistance and makes a strong move to the upside.

This type of formation happens when sellers can not break the support price, and market participants eventually pour in.

 

Trade idea

Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the breakout price level. To identify an exit, compute the target price by adding the pattern’s height (highest price minus the bottom price support level) to the breakout level ­ the highest high. When trading, wait for the confirmation move, which is when the price rises above the breakout level.

To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.

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