Bhavishya Purana Bhavi = Future Bhavishya = Consequence Purana = Old Stories.
Bhavishya - Double & Triple Tops and Bottoms
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Transcript of Bhavishya - Double & Triple Tops and Bottoms
![Page 1: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/1.jpg)
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This chart pattern is another well-known pattern that signals a trend reversal - it is considered to be one of the most reliable and is commonly used.
![Page 4: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/4.jpg)
These patterns are formed after a sustained trend and signal to chartists that the trend is about to reverse.
![Page 5: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/5.jpg)
The pattern is created when a price movement tests support or resistance levels twice and is unable to break through.
![Page 6: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/6.jpg)
This pattern is often used to signal intermediate and long-term trend reversals.
![Page 7: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/7.jpg)
Figure 3: A double top pattern is shown on the left, while a double bottom pattern is shown on the right.
![Page 8: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/8.jpg)
In the case of the double top pattern in Figure 3, the price movement has twice tried to move above a certain price level.
![Page 9: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/9.jpg)
After two unsuccessful attempts at pushing the price higher, the trend reverses and the price heads lower.
![Page 10: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/10.jpg)
In the case of a double bottom (shown on the right), the price movement has tried to go lower twice, but has found support each time.
![Page 11: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/11.jpg)
After the second bounce off of the support, the security enters a new trend and heads upward.
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Triple Tops and Bottoms
Triple Tops Triple Bottoms
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Triple tops and triple bottoms are another type of reversal chart pattern in chart analysis.
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These are not as prevalent in charts as head and shoulders and double tops and bottoms, but they act in a similar fashion.
Double bottoms
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These two chart patterns are formed when the price movement tests a level of support or resistance three times and is unable to break through; this signals a reversal of the prior trend.
![Page 16: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/16.jpg)
Figure 7
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In the case of the double top pattern in Figure 3, the price movement has twice tried to move above a certain price level.
![Page 18: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/18.jpg)
After two unsuccessful attempts at pushing the price higher, the trend reverses and the price heads lower.
![Page 19: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/19.jpg)
In the case of a double bottom (shown on the right), the price movement has tried to go lower twice, but has found support each time.
![Page 20: Bhavishya - Double & Triple Tops and Bottoms](https://reader033.fdocuments.us/reader033/viewer/2022052315/556291fad8b42aa17d8b506b/html5/thumbnails/20.jpg)
After the second bounce off of the support, the security enters a new trend and heads upward.