Tripple Bottom

Summarizes: http://www.trending123.com/patterns/triple_bottom.html

-----Formation-----

"three sharp lows, all at about the same price level."

"sharp lows are often only one-day spikes."
"the highs of the pattern can appear to be rounded."
"sharp lows which are well separated and not part of a larger congestion"
"takes approximately four months to develop"
"down trend preceding the pattern must be a major one."
"must have symmetry...not alot of white space"

-----Confirmation-----

"prices rise about the highest high in the formation."
"If the pattern fails to move up and break through the confirmation point after reaching the third low, the pattern is not a valid triple bottom."
"failure rate to be a low 4% after confirmation"
"70% of triple bottoms will throw back to the breakout price. "
"If prices return to the confirmation point quickly after the breakout...within two weeks...time to jump in is once the prices have turned around again and headed back up. "

-----Volume-----

"tends to trend downward as the pattern forms."
"lighter on each successive low."
"Volume then picks up as prices rise above the confirmation point and break into the new upward trend."
"Volume should be higher at the lows than on the days leading to the lows."

-----Target-----

"subtracting the lowest low from the highest high in the formation."
"add the height to the highest high."