Point‐and‐Figure Charting
Double bottom formations that are accompanied by a declining or descending
pattern of Os and Xs at the top of the formation are considered more bearish than
standard double bottom formations. See Figure 15.15 for the basic setup.triple tops and bottoms
Triple tops are basically an extension of a double top formation. They represent
very significant bullish signals and buy triggers. This formation takes five columns
to develop. See Figure 15.16 for the basic setup.
Figure 15.17 depicts a typical triple top breakout in Chesapeake Energy Corp.
Figure 15.18 illustrates the setup for a triple bottom breakdown. They repre-
sent very significant bearish signals and sell triggers. The formation also takes five
columns to develop.
Figure 15.19 depicts a typical triple bottom breakdown in Goliath Film and
Media Holdings at $0.13.Figure 15.14 A Basic Three‐Box Reversal Rising Double Top Breakout.Figure 15.15 A Basic Three‐Box Reversal Declining Double Bottom Breakdown.