A P&F Double Bottom forms when a column of O's reaches the low of the previous column of O's. Point and Figure charts plot rising prices as columns of X's and falling prices as columns of O's, ignore time, and add a new column only on a reversal of several boxes, which filters out minor moves. When the O column moves one box below that low, the Double Bottom Breakdown is the classic Point and Figure sell signal, showing that supply has overcome the demand at support.
