Try to plot $f^n(x)$ for a few values of $n$.
We have the following for the first couple:
for $n=1$
for $n=2$
for $n=3$
And superimposed we have the following:

Notice that each peak basically "splits" into two peaks. This should be intuitive from the function definition, and give you some idea for what $f^n$ is like for an arbitrary $n$.
But if we are trying to find a periodic orbit of period 3, i.e. a fixed point of $f^3(x)$, graph $f^3(x)$ superimposed with $f(x) = x$ to give:

This shows that there is exactly one non-fixed period 3 orbit of $f$, because there is one point where $f^3(x) = x$.
This value happens to be $x = \frac{3}{5}$, but you'll notice that
$$f( \frac{3}{5}) = \frac{3}{5}$$
So this isn't an orbit of order strictly greater than 2. The same thing happens for $n=5$. For $n=7$ however we get the far more complcated

Which has one solution of $x = \frac{894}{2315}$, giving the desired orbit.
$$\frac{894}{2315},\frac{1461}{2315},\frac{1281}{2315},\frac{1551}{2315},\frac{1146}{2315},\frac{1719}{2315},\frac{894}{2315}$$
This map belongs to the more general class of functions called tent maps, and the wikipedia page gives a number of interesting behaviors, notable that they exhibit a bifurcation structure similar to the map $x^2 +c$, and the logistic map, because the logistic map and the tent map are topologically conjugate.