Have seen this pattern before. Worth watching "just in case" as a possible.
FWIW....
FWIW....
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Uncommon "3x Top @ Lower Hi"....
- Thread starter Scataphagos
- Start date
K
krugman25
Looks like an ascending triangle
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krugman25
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
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.
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krugman25
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".
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K
krugman25
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
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.
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