• Price characteristics: Two highs following a worthwhile rally that form at approximately the same level. They are separated by a decline and a decent time interval.• Pattern completed: With a decline below the valley low.• Volume considerations: Heavy volume on the first top. Substantially lower volume on the second.• Measuring implication: The distance between the higher of the two tops and the valley low is projected down from the breakout point.• Signs of false breakouts: Retracement of 50 percent or more of the distance between the second top and the breakout point.• Places to unwind the position in case of a whipsaw breakout: Retracement of 50 percent or more of the distance between the second top and the breakout point.
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