Double Top

Two peaks at the same price after a rise, separated by a clear valley; completes on a close below the valley low.

The double top ("M") is two failed attempts at the same high. Bulkowski's rule: the pattern is only complete when price closes below the low between the peaks, the confirmation line drawn here as the neckline.

Most twin peaks never confirm; only the close below the valley counts. Rectangles that happen to show two peaks are listed as rectangle tops.

How we define it

Two zigzag peaks (swings of at least 2 ATR) within about 0.4 ATR of each other, nothing above them in the pattern
Valley at least 4 ATR and 5% (4H) / 8% (1D, 1W) below the peaks; peaks and valley legs of similar width
Price rallied into the first peak (prior trend up)
No close above the peaks and no close below the neckline before the breakdown
Minimum length: 2 months on 1D, 3 months on 1W, 10 days on 4H
Breakout (up) / breakdown (down): the first candle close beyond the boundary by at least 3% on 1D and 1W (1.5% on 4H)
Failed breaks: a breakout or breakdown that closes back inside the boundary within 6 candles on 4H, 5 on 1D or 3 on 1W is removed from the list
Trend filter: breakouts only above the 200-period EMA (40-week EMA on 1W), breakdowns only below it
Watchlist: the pattern is complete but unbroken and price is within 3% (or 1 ATR, at most 6%) of the boundary