Double top

Two failed attempts at the same high

What it is

Price reaches a high, pulls back, returns to roughly the same high, and fails again.

What it may suggest

Supply sitting at one price. Losing the pullback low is the confirmation.

Where it fails

A second test failing is common; a third often succeeds. Also easily confused with a range, which is the same shape with no consequence.

Also called double top pattern, M top.

More chart patterns

Bull flagSharp move up, tight drift down
RangePrice oscillating between two levels
TrendlineA sloped line joining successive highs or lows
Volatility contractionSuccessively smaller bars
Double bottomTwo failed attempts at the same low
Bear flagSharp move down, tight drift up

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