What is a Double Top?
Double Top Definition:
In Technical Analysis, a double top is a bearish reversal chart pattern that is found at the end of an uptrend. At the end of an uptrend, the price makes two consecutive peaks with highs that are just about equal and a trough in between. It generally resembles a price action similar to “M.” A breakdown occurs when the price moves below the recent trough. Here, a price target is usually set by projecting the depth of the trough from the point of breakout.