A P&F Double Top forms when a column of X's reaches the high of the previous column of X'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 X column moves one box above that high, the Double Top Breakout is the classic Point and Figure buy signal, showing that demand has absorbed the supply at resistance.
