The triple top is a chart pattern that is comprised of three sharp peaks, all at the same level. The pattern is also called a "W" pattern because of the formation it traces on the chart. A triple top occurs when prices are in an uptrend. Prices rise to a resistance level, retreat, return to the resistance level again, retreat, and finally, return to that resistance level for a third time before declining. In a classic triple top, the decline following the third peak marks the beginning of a downtrend. (See more information on the Triple Top Pattern).