A P&F Potential Double Top is a column of X's that has risen to within one box of the previous X-column high. 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. One more box up would complete a Double Top Breakout buy signal, so traders put the stock on watch for a breakout.
