Two failed attempts at the same high that flip an uptrend. Ranked 19th of 36 bearish patterns; ~75% break-even rate and a ~15% average decline.
7 min read Pattern Deep-Dives
75%
Break-even rate
-15%
Average decline
19 / 36
Bulkowski rank (bearish)
~61%
Pullback rate
// key takeaways
▸ Two peaks at a similar high with a valley (neckline) between them.
▸ Confirmation is a close below that valley low — not the second rejection.
▸ Target = pattern height projected down from the neckline break.
▸ A pullback to the neckline after the break is common and offers a second entry.
// figure: double top (m) pattern
figure.svg
Double top (M) — two equal highs, confirmed on the valley breakdown.
How it forms
After an advance, price makes a high, pulls back to a valley, rallies again to roughly the same high and fails to exceed it. That double rejection signals buyers are exhausted. The valley between the peaks is the neckline; a close below it confirms the reversal to the downside.
The trading playbook
› Entry — on a decisive close below the valley neckline, or on the pullback that retests it as new resistance.
› Stop — above the higher of the two peaks.
› Target — measure from the peaks down to the neckline and project that height below the breakdown.
Adam vs Eve
As with double bottoms, Bulkowski separates sharp, narrow tops (Adam) from rounded, wide ones (Eve). Eve & Eve double tops tend to be the more dependable variant. In all cases, wait for the neckline break — an unconfirmed double top is just two highs.
// common mistakes
✕ Shorting the second peak before the neckline breaks.
✕ Requiring the two highs to be identical — a small difference is fine.
✕ Ignoring the higher-timeframe uptrend the pattern is trying to reverse.
Frequently asked
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Educational content only — not financial advice. Pattern statistics reference Thomas Bulkowski (thepatternsite.com) and published technical-analysis literature.
