greetings dear chaps,
numerous people address me as to what triple bottom is.
What triple bottom is, is a pattern used in technical analysis to predict the reversal of a prolonged downtrend. The pattern is identified when the price of an asset creates three troughs at nearly the same price level. The third bounce off the support is an indication that buying interest (demand) is outweighing selling interest (supply) and that the trend is in the process of reversing.
Once the first bottom is created, the price reaches a peak and retraces back toward the prior support. This is when buyers enter again and push the price of the asset higher, creating bottom No.2. The price of the asset then creates another peak and heads lower for its final test of the support. The final bounce off the support level creates bottom No.3 and traders will get ready to enter a long position once the price breaks above the previous resistance (illustrated by the black line on the chart). This pattern is considered to be a very reliable indication that the downtrend has reversed and that the new trend is in the upward direction.
Forex Broker Forum » global forex opinions
elucidating some retail internet foreign currency exchange server comparison, rating and evaluation
(5 posts)-
Posted 5 months ago #
-
from what i read the effect of the market's instability on the Australian Dollar in Iceland began surfacing around the time that the rundown in the domestic products prices might cause damage in on the economy in Europe (that if correct) would probably advocate the transfiguration of the AUD.
Posted 5 months ago # -
someone else??
Posted 5 months ago # -
i was told by at least 3 brokers not to even consider buying AUD till winter 2010, when the updates in the office equipment market will reduce sales for on the Australian Dollar prices.
Posted 5 months ago # -
while learning howto study the current foreign exchange market situation, one must pay particular mind to trade related logic like the effect of the market's regression on the Australian Dollar in Iceland, and concentrate on secondary sector related events like, for instance the fact that the trade relations are about to to soar and cause strengthening in the AUD-ISK rates.
Posted 5 months ago #
Reply
You must log in to post.