The triple bottom is a bullish reversal pattern that occurs at the end of a downtrend. This candlestick pattern suggests an impending change in the trend direction after the sellers failed to break the support in three consecutive attempts.

On the other hand, its scarcity makes it a very strong and powerful pattern. The sellers are extremely exhausted after three consecutive attempts to break lower, which makes them exposed to a rally as buyers feel much more confident after defending a strong horizontal support.

The triple bottom formation doesn’t have any apparent weaknesses. Actually, its biggest limitation is that it doesn’t occur quite often, otherwise it would be the strongest reversal pattern out there.