Triple Top Bottoms in Chart Reading

I have said that I love triple tops. I love it whenever the price chart shows that a "high price" has been reached three times. The reason I like these setups is that usually, if the price pulls back on lower volume then it will move up and sharply through the "top". It is easy to trade these. I know when I am right and I know when I am wrong. And they usually turn out good from a speculative point of view.
In the context of a bottom they are particularly powerful as they signal to most participants that a bottom has been formed and there is a change of trend to contend with. In a stock that has a large short interest there can be amazing rallies as the shorts scramble to cover.

There is a triple top bottom in the British Pound as we wait for the Brexit vote next Friday. This strong Pound move coupled with a strong Yen has made the US Dollar weak.  At some point this weakness will become a trend. Emerging markets love a weak dollar. And US exporters love a weak dollar, for the same reason Chinese and Japanese and just about every other exporter loves a weak domestic currency. And that is why we have a currency war going on and nearly every country in the world wants a weak domestic currency.

In my opinion the WORLD needs a weak US Dollar due to the amount of debt that is denominated in US Dollars. I know that it will rob from the fixed income people, but I think it will finally scare the money out of the bond market, perhaps to be put to good use.

control risk,
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