TRIPPLE TOP CHART PATTERN & how to trade it

TRIPPLE TOP CHART PATTERN & how to trade it

Triple top chart pattern ek bearish reversal pattern hai, jismein price action mein ek specific formation hoti hai. Is pattern mein price pehle se upar jaata hai, phir ek resistance level par rokta hai aur fir do aur attempts mein wapas resistance level tak jaata hai. Yeh pattern usually long-term trend reversal ko indicate karta hai. Triple top chart pattern ko trade karne ke liye, traders usually do steps follow karte hain: 1. Identify the Pattern: Sabse pehle, traders ko triple top pattern ko identify karna hota hai. Iske liye, price chart par peaks ko dekhna hota hai, jo lagbhag same level par hote hain. Peaks ke beech mein price support level create karta hai. 2. Confirm the Pattern: Triple top pattern ko confirm karne ke liye, traders ko price action aur volume analysis karna hota hai. Price action mein, peaks ke beech mein price ka sideways movement dekha jaata hai. Volume analysis mein, peaks ke beech mein decreasing volume dekhna hota hai. Confirm pattern ke liye, price ko resistance level se neeche break karna zaroori hai. 3. Entry Point: Entry point ko determine karne ke liye, traders usually resistance level ke break ke neeche price movement ka confirmation wait karte hain. Jab price resistance level se neeche break karta hai aur confirm hota hai, tab traders short position lete hain. 4. Stop Loss: Stop loss placement bahut important hota hai, kyunki agar price resistance level ko break karke wapas upar jaata hai, toh pattern invalid ho sakta hai. Stop loss usually resistance level ke thoda upar place kiya jata hai, taki false breakouts se bacha ja sake. 5. Target: Triple top pattern ke target ko determine karne ke liye, traders usually pattern ke height ko measure karte hain. Pattern ke height ko resistance level se down project kiya jata hai, jisse approximate target level milta hai. Traders apne target ko support levels ke paas place kar sakte hain. Triple top pattern ke saath trading karne ke liye, traders ko price action, volume analysis, aur support/resistance levels ko dhyan mein rakhna hota hai. Is pattern ki successful trading ke liye, risk management aur proper entry/exit strategy ka istemal karna zaroori hai.Hamesha yaad rakhein ki chart patterns mein 100% accuracy nahi hoti hai, isliye proper risk management aur stop loss ka istemal karna bahut zaroori hai. Market mein trading karne se pehle, apne trading plan ko test aur practice karna bhi important hai.