All three highs should be reasonably equal, well-spaced, and mark clear turning points to establish resistance.
The highs do not all have to exactly the same level but should be “close enough”.
That said, when the last high fails to reach the middle high’s value, the trend might be getting exhausted, and a stronger decline can be expected.
Buying pressure is declining so the uptrend is running out of steam.
As with a Triple Bottom, it is generally thought that the longer a particular trend takes to fully develop, the stronger the significant change in price once a breakdown occurs.
Triple Tops and Bottoms are considered one of the slowest types of chart patterns to fully mature.
While the Triple Top is developing, it can look like other chart patterns.
For example, before the third high forms, the pattern may look like a Double Top.
With a Triple Top, the support level can be identified by drawing a line at the base level of the lows, which forms a “Neckline“.
Preceding trend intensity is also important. A Triple Top emerging after a steep uptrend might be expected to result in a steeper decline.
The Triple Top should also be treated as a neutral chart pattern until a breakdown (downside breakout) occurs.