Weekend Charting 28th July - 30th July 2017, page-68

I still don't have much time but I'll touch on a few things.
- In any reversal top Peak A should not have data preceding it otherwise peak A becomes a corrective within a larger formation rather than a unique structure itself, which a double or triple top is. The first and last peaks should be unique, same applies for double top formations.
- In the second example V posted the chart shows a clear break below B which immediately confirms that peak as a unique structure. The rally from the low of that chart has no correlation to the previous B low, which it should.
- In the XJO chart C and E are no where near close enough to A to be labelled as horizontal highs. C and E however is a different story so there is an argument for a Double top to be confirmed there. The XJO chart is at least ascending.
- As bundy touched on, Triple Tops and Double Tops should both be clean structures. They can be large or small, in my experience huge trends can often come from strangely small structures, but they are always clean. Both of the examples V provided have a high number of smaller degrees structures going on within them.
- As with Double Tops, the structures aren't confirmed until the lowest low within the structure has failed to hold as support. In the case of his XJO triple top, the initial equality target for that would see the XJO down to around 170 points.


Just a tip for anyone reading this, if you have trouble understanding this or anything I write then try and visualise it with pen and paper.