Double Top
BearishAn M shape that taps the ceiling twice and slips — a sign the upside is getting heavy
Textbook shape
How to read it
An M-shape: two highs near the same level, then a turn lower. The failure of the second high to exceed the first suggests buying pressure is drying up above that price.
The pattern completes when the close breaks the pullback low between the two highs (the neckline). Until then it is just range noise.
Real example
US stockPLUGDaily
Completed 2024-02-02
CryptoETH-USDDaily
Completed 2021-12-10
A window SQMATE's detectors actually flagged in past bars. It records a day that worked out — the same shape doesn't always resolve the same way.
On SQMATE
No more eyeballing charts
You don't have to flip through charts hunting for shapes. Signal watch pings your browser the moment a condition is met, patterns on your watchlist arrive by email, and the screener lists every symbol that matched today.
SQMATE draws the lines
Support lines, trendlines, channels — the lines you need to read a pattern are drawn for you, so no time goes into drawing.
Patterns aren't the whole story
The same shape doesn't always resolve the same way. It's safer to read it together with candles, volume, and market context — news, catalysts, flows.