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.
Percent of successful formations – 79%
Failure rate – 15%
Average time to pullback completion – 3 hours
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.