“Two tops that approximately the same price level” is only half the explanation.  Prices must decline below and close below the low point established between the two tops (the middle reversal point) before a double top has been activated.  In a double bottom, prices must...

Technical analysis patterns can be deivided into two types, reversal and continuation patterns. Reversal patterns indicate that the primary trend is likely to change direction, from an up trend to a down trend or vice versa. Continuation patterns indicate a trend is likely to continue,...