Triple Bottom Pattern

What does Triple Bottom Pattern mean?

A Triple Bottom Pattern forms on a price chart when investors are testing a lower limit of a price in a downtrend.

It generally takes several months to form a triple bottom pattern as price moves off the bottom once, returns to it, only to move higher once more, and then returns to it a third time completing the triple bottom pattern.

After the pattern is complete price is likely to move above the tops formed previously and once that happens the market is considered to be back in a bull phase. Because of this the triple bottom is considered a reversal pattern.