POINT AND FIGURE LIBRARY

The Chart Formations
The Triple Top and Triple Bottom with Long Tail

A.W. Cohen said that the existence of a long tail causes the move to be particularly dynamic when the triple top is breached. I agree, provided that it is understood that I am referring to a short-term move.

The reason for this dynamism is probably that the formation has some resemblance to a trap. Bears are being squeezed as a perceived downtrend fails to emerge after the earlier breach of a double or triple bottom.

Next: The Triple Top and Triple Bottom with Rising Lows

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