Sometimes there will be a definitive downtrend to reverse. Other times the downtrend will fade away after many months of sideways trading. All three lows should be reasonable equal, well spaced and mark significant turning points. The lows do not have to be exactly equal, but should be reasonably equivalent. As the triple bottom develops, overall volume levels usually decline.
Volume sometimes increases near the lows.
After the third low, an expansion of volume on the advance and at the resistance breakout greatly reinforces the soundness of the pattern. The highest point of the formation, which would be the highest of the intermittent highs, marks resistance. Because the triple bottom is a long-term pattern, the test of newfound support may occur many months later. The distance from the resistance breakout to lows can be measured and added to the resistance break for a price target. The longer the pattern develops, the more significant is the ultimate breakout.