CLA chart, page-1637

Thanks Hoots - Not my forte, re the finer points in charting (& I know you said potential)

Just wanting clarification

I Use Volume as well to give a better indicator and would argue that volume was not evident on the decline. Hence no distribution or exit by players/ market makers.

So would not see this as a double top (other than it has two peaks).

I would think it is ranging or a flag (if I squint hard enough ). Would like to see it break through the last highs on volume......but by then it is too late to take a position if you are waiting for a good entry.

Decline from Peak: The subsequent decline from the second peak should witness an expansion in volume and/or an accelerated descent, perhaps marked with a gap or two. Such a decline shows that the forces of demand are weaker than supply and a support test is imminent.

http://stockcharts.com/school/doku....t_analysis:chart_patterns:double_top_reversal