Uncommon "3x Top @ Lower Hi"....

Discussion in 'Trading' started by Scataphagos, Aug 20, 2019.

  1. Have seen this pattern before. Worth watching "just in case" as a possible.

    FWIW.... Capture.PNG
     
    Last edited: Aug 20, 2019
  2. krugman25

    krugman25 Guest

    Looks like an ascending triangle

    SWKS.png
     
  3. krugman25

    krugman25 Guest

    What the difference between a double/triple top and a triangle? A rising/falling neckline. Your screenshot shows a rising neckline, so it isn't a triple top
     
  4. 1. No technical difference between double and triple top.

    2. Neckline is irrelevant. Has nothing to do with double/triple top.

    3. In spite of the attention they get, "potential H&S patterns" are highly unreliable.

    4. This pattern may morph into a triangle-like pattern, but wouldn't be looking for that just now. Triangles are primarily "4th waves" in impulse patterns.
     
  5. krugman25

    krugman25 Guest

  6. Geez.... I thought YOU were going to come with something, not "check out this guy... he has a website so he must be smarter than you".

    I looked at his stuff years ago. Some good, some not. Overall not impressed.

    Most technical analysts, both pro and amateur, "see patterns everywhere".

    KISS regards much fewer as "significant and should be traded".
     
    Last edited: Aug 20, 2019
  7. d08

    d08

    Isn't it just a reverse head & shoulders forming?
     
  8. krugman25

    krugman25 Guest

    Right, the guy has only studied about a million chart patterns over 4 decades. What does he know.

    On a separate note, I had no idea he wrote romance novels. LOL
     
  9. As an analogy.... I used to be a professional bowler. There was a guy who almost daily practiced in my home house. One person made the comment, "he practices every day... he must be really good". My reply, "He's not and likely will never be. He practices poor technique".

    There is a difference between "20 years experience and 1-year's experience, 20 times". Not saying Bulkowski is this, but I view his work overall as only so-so. Still, better than nothing for noobs.
     
    Last edited: Aug 20, 2019
    Overnight and Nobert like this.
  10. Adude81

    Adude81

    Also the 61.8 retracememt....
     
    #10     Aug 20, 2019