Double Top
a.k.a. M pattern
An M-shaped reversal pattern where price hits the same high twice, fails to break it, and then falls.
In plain English
An M-shaped reversal pattern where price hits the same high twice, fails to break it, and then falls.
A double top forms when price climbs to a level, pulls back, rallies to roughly the same height again, and is rejected again. The shape is an M.
The pattern is confirmed when price breaks below the low between the two peaks. Buyers got two shots at the high and missed both times. Mirror image: double bottom.
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