Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Spread Tripe Top Breakout in Nifty

27 sec read


 

Chart Shows the Bullish Spread Triple Top Breakout Pattern in Nifty P&F Charts(Point and Figure Charts)

A spread triple top breakout is similar to a triple top breakout except that the price at which the breakout occurred is a price that the chart retraced from two times before in the recent past. The two times do not have to be immediately preceding the current column. This alert implies that the price level is a significant area of resistance (area where sellers are willing to sell the stock and create supply that outstrips demand). The breakout above this level implies that the buyers are now creating more demand than there is supply and therefore the prices are breaking out.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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