Triple Tops   

Triple Tops

Three well-separated and distinct minor highs at about the same price level. The price variation among the three tops is minor. Prices must decline below the lowest low in the formation (confirmation point) or it is not a triple top.
 
Example
 
graphic
 
Statistics
Percent of successful formations – 79%
Failure rate – 15%
Average time to pullback completion – 3 hours
 
Trading tactics
Compute the formation height by subtracting the lowest low from the highest high in the formation. Subtract the height from the lowest low. The result is the expected minimum price move.