🔥 The Triple Top pattern 🔥

📊 The Triple Top pattern is a technical chart pattern that signals a potential trend reversal from bullish to bearish. It occurs when an asset’s price reaches a resistance level three times, forming three consecutive peaks at nearly the same level.

📈 Fibonacci retracement is a powerful tool that helps identify potential support and resistance levels based on the Fibonacci sequence, a mathematical pattern in nature and financial markets.

Education

📝Here’s how you can use this powerful combination:

1️⃣ Identify an uptrend on the chart and notice a Triple Top pattern’s formation; 2️⃣ Use Fibonacci retracement to draw retracement levels from the highest point; 3️⃣ Wait for the third peak to be confirmed after the price crosses 0.78 Fibo level; 4️⃣ Enter the market when the price breaks below the neckline of the Triple Top pattern and retests it; 5️⃣ Close your position when the price reaches the 1.61 Fibo level.