Double top, Double bottom

When the price of a security moves in a pattern resembling ‘M’ and ‘W’ it forms double top and double bottom respectively. It is also a reversal pattern.

A double top is when a stock price reaches a resistance level two times in a relative short time frame and a double bottom is when a stock price reaches a support level two times in a relative short time frame. Movement below the pullback low or above the pullback high triggers a sell or buy signal respectively.