Triple Bottom U-Turn
A low trend is a schematic indicator of the triple bottom’s price; the third thrust in the trend strongly suggests a reversal.
This price indicator is more telling than a Double Bottom.
How a Triple Bottom is Determined
As the name suggests, this price indicator is a pattern of three thrusts in position within a single line.
The lowest and highest rates are combined by direct reinforcements and divisions. The asset is underestimated should a price reversal occur thrice.
The indicator is fixed when the price breaks through to the resistance mark–with potential error. A buy signal is given and the trend changes.
The Triple Bottom price reaches the target indicator when constructing a schematic price indicator. It is calculated by the formula:
T = R + H,
In the formula:
T – goal indicator;
R – resistance mark (local high rates);
H – indicator height (distance of support and resistance indicators)