This morning on H4 chart of EURUSD, it seems like there are 3 valleys (V or U letter shaped pattern), which is the classic triple bottom chart pattern. The triple bottoms, which spans over 3 weeks, could be a hint of a Bullish Reversal move underway.
How to trade the triple bottom?
As with double bottom formation, the bullish view is only confirmed when Price Action breaks out of the neckline. The additional criteria for the validity is that Price Action should not make a new lows beyond the triple bottom.
If there is a new Low formed in the coming days, then the triple bottom is invalid. Instead, it can be a possible rectangle pattern, which is a consolidation of the Bearish Trend move.
