Separated quadruple top buy signal

the separated quadruple top buy signal is another form of the normal quadruple top buy signal but with the difference that the triple top which not has generated a valid buy signal comes first and later on a single X,s column passes through the former price resistance of the triple top or a triple top generates a actual buy signal on a former single resistance level of a X,s column. We can see in the image how the single X,s column passes through the former resistance level where the former triple top was not able to generate a valid buy signal. We can see also how the second column of O,s is forming a higher bottom as the first column of O,s. This shows us that there is fewer offer and the sellers are only disposed to sell at higher prices. First a single buy signal and after that the price breaks out of the resistance of the former triple top. When a actual triple top is able to break through former resistance and forms a separated quadruple top buy signal this is even more significant as a normal triple top or the formation showed in this image.

Spread quadruple bottom sell signal

how we can see in the image with the red line the quotations broke three times to the 655 $ level which was a very importante support level. Like i have explained before we have to look if we are in a bull or bear market because if the high/low breakdown is not confirmed with the close price it could be a false breakdown. In this specific case it was vital to apply the bearish resistance line to see if the market is ready and able to break bearish resistance and to resume his primary uptrend. But there are no substitute for experience in trading, so begin early to learn point and figure to have sufficient time to be a master in point and figure charts.

Advertising

If you like to participate in my point and figure training courses which gives you an edge as a trader feel free to contact me. After this training you will see the market moves much clearer as before don,t trade every pattern you see. Don,t make your broker rich because you have to make money.