Thursday, April 14, 2011

Possible triple top formation on the EURUSD



A Triple Top
is a pattern very similar to the Double Top -- only there are three distinctive tops rather than two. A triple top formation is a distinct chart pattern characterized by a rally to a new high followed by a moderate pullback and a second rally to test the new high. As the stock rallies to make the second peak (top) sellers overwhelm buyers and the stock price falters again This process is repeated a third time but buyers finally submit, support levels are broken and a massive decline ensues. - http://chart-patterns.netfirms.com/tripletop.htm

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