As of 06/24/2025
  Indus: 43,089 +507.24 +1.2%  
  Trans: 15,375 +277.47 +1.8%  
  Utils: 1,051 -0.31 0.0%  
  Nasdaq: 19,913 +281.66 +1.4%  
  S&P 500: 6,092 +67.01 +1.1%  
YTD
 +1.3%  
-3.3%  
 +7.0%  
 +3.1%  
 +3.6%  
  Targets    Overview: 06/13/2025  
  Up arrow44,000 or 41,200 by 07/01/2025
  Up arrow16,000 or 14,500 by 07/01/2025
  Up arrow1,080 or 1,010 by 07/01/2025
  Up arrow20,500 or 19,000 by 07/01/2025
  Up arrow6,150 or 5,850 by 07/01/2025
As of 06/24/2025
  Indus: 43,089 +507.24 +1.2%  
  Trans: 15,375 +277.47 +1.8%  
  Utils: 1,051 -0.31 0.0%  
  Nasdaq: 19,913 +281.66 +1.4%  
  S&P 500: 6,092 +67.01 +1.1%  
YTD
 +1.3%  
-3.3%  
 +7.0%  
 +3.1%  
 +3.6%  
  Targets    Overview: 06/13/2025  
  Up arrow44,000 or 41,200 by 07/01/2025
  Up arrow16,000 or 14,500 by 07/01/2025
  Up arrow1,080 or 1,010 by 07/01/2025
  Up arrow20,500 or 19,000 by 07/01/2025
  Up arrow6,150 or 5,850 by 07/01/2025

Bulkowski on Adam & Adam Double Tops

Page updated and 10 examples added 6/16/2025.

Adam & Adam Double Top Overview

During research for my book, Encyclopedia of Chart Patterns, 3rd Edition I uncovered many facts about double tops. I discovered that twin peak patterns fail 60% of the time. That's how often price rises instead of drops. Confirmed Adam & Adam double tops fail much less, 25% of the time (which isn't small, either).

Adam is a term that describes how the top looks, in this case, a narrow, pointed top, perhaps with a one-day upward spike. Eve tops are more rounded looking and wider. If they have spikes, they tend to be more numerous and shorter. Many times the difference between Adam and Eve is the width of each over their entire height. Adam tops tend to remain narrow but Eve tops widen over their height. When trying to decide which is which, ask yourself if the two tops appear different or similar. With Adam & Adam, the two should look similar (both narrow).

Adam & Adam Double Top: Important Bull Market Results

Overall performance rank (1 is best): 19 out of 36
Break even failure rate: 25%
Average decline: 15%
Pullback rate: 64%
Percentage meeting price target: 64%

The above numbers are based on 1,114 perfect trades. See the glossary for definitions.

Adam & Adam double top
Adam & Adam Double Top
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Adam & Adam Double Top: Identification Guidelines

CharacteristicDiscussion
Price trendUpward leading to the pattern.
ShapeTwo distinct tops that look similar, usually twin spikes poking above the surrounding price landscape. Adam tops are narrow, inverted V's.
ValleyThe valley drop between the tops should measure at least 10%, but allow exceptions.
Top priceThe variation between price peaks is small, usually less than 3%. The two tops should appear to peak near the same price.
SeparationThe twin peaks are usually several weeks apart.
ConfirmationThe double top confirms as a true double top once price closes below the valley between the two peaks.
VolumeUsually higher on formation of the left peak than the right, and trends downward.

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Adam & Adam Double Top: Trading Tips

Trading TacticExplanation Adam & Adam double top measure rule
The Measure Rule
Measure ruleCompute the height from the highest peak (point B in the figure to the right) to the lowest valley (A) between the two peaks and then multiply it by the above 'percentage meeting price target.' Subtract the result from the breakout price (A) to get the target (C). Also, see the double top study. for a new price prediction method.
StopPlace a stop loss order a few pennies above the highest peak (point B in the figure to the right) in the double top chart pattern. If that is too far away, then consider a volatility stop.
Price velocityA study concludes that a high velocity move leading to the chart pattern results in a high velocity move after the breakout.
Price reversalPrice must have something to reverse, so if the rise leading to the double top is small, expect a small decline.
ConfirmationWait for confirmation -- price to close below the valley floor (point A in the figure to the upper right). If you don't wait, there's a 60% chance that price will continue higher without confirming the double top.
Trend endIf a double top appears after a long-term DECLINE, confirmation of the top may mean that the end of the decline is near (10% to 20% below and a month away).
TrendsAvoid a long term trend leading to the pattern as those produce the smallest declines post breakout.
Yearly highDouble tops with breakouts in the highest third of the yearly price range perform worst, but the performance difference between the other ranges is small.
PullbacksPullbacks hurt post breakout performance. The link to the left defines pullbacks and the following link discusses performance.

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Adam & Adam double top chart pattern example

Adam & Adam Double Top: Example

The figure to the right shows an example of an Adam & Adam double top chart pattern. The two Adam tops are narrow peaks with a good decline between them (point B) and they appear after an upward price trend. The Adam & Adam double top confirms as a valid double top when price closes below point B, shown as the horizontal blue line.

To calculate a price target, subtract the price of valley B (the lowest valley between the two Adam tops) from the higher of the Adam peaks (A). That finds the height. Multiply the height by 45% (the percentage meeting price target from Important Bull Market Results table near the top of this page) and subtract the result from B. That gives a target shown as a red horizontal line on the above chart (point C).

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Adam & Adam Double Top: 10 Examples

The following is a slide show. Click the right or left arrows, or the circles below the chart to navigate around the slides.

 

1 / 10
Adam Adam Double Top chart pattern

Peaks AB form the Adam & Adam double top. When price closes below the red line (C), it confirms the squiggles on the chart as a valid chart pattern. Point C is the lowest valley between the two peaks. In this case, price gaps lower.

The next chart gives more examples.
2 / 10
Adam Adam Double Top chart pattern

Yes, this double top looks weird but few examples are perfect. The two peaks should top out at the same or similar prices but this example does not. Peaks AB are the double top. The horizontal red line is confirmation. If price doesn't close below the red line, then you don't have a valid chart pattern.

The next chart gives more examples.
3 / 10
Adam Adam Double Top chart pattern

This double top AB doesn't see price drop far below confirmation, C.

The next chart gives more examples.
4 / 10
Adam Adam Double Top chart pattern

Another double top AB with a pullback, D, with price eventually reaching the ultimate low at C. The ultimate low is the lowest price before the stock climbs by at least 20%. If you traded the stock perfectly, it's the price at which you'd cover your short.

The next chart gives more examples.
5 / 10
Adam Adam Double Top chart pattern

AB is the double top. C is the ultimate low. This double top busts when the stock drops less than 10% below the breakout price (same as confirmation), reverses, and closes above the highest of the two peaks (B in this example). Note: the double top isn't an Adam & Adam but rather an Eve & Adam top. Did you catch the mistake?

The next chart gives more examples.
6 / 10
Adam Adam Double Top chart pattern

AB is the double top. To the left of that is an example of a chart pattern called an Eve & Adam. The ultimate low is C for the first double top. D shows a nice decline after Adam & Adam (AB). There's not a lot of difference (visually) between the four peaks, so this is not an ideal example.

The next chart gives more examples.
7 / 10
Adam Adam Double Top chart pattern

AB is the double top. C is the ultimate low. D is when price busts the double top. A trader would be hard pressed to make money shorting this stock. This might be an Eve & Adam double top, which highlights the problem with identification.

The next chart gives more examples.
8 / 10
Adam Adam Double Top chart pattern

Another example of a double top but this appears as a retrace of the downtrend.

The next chart gives more examples.
9 / 10
Adam Adam Double Top chart pattern

A pair of Adam & Adam double tops. These are classic examples, with narrow needle-like peaks. I usually ignore the meager decline between the two peaks (it's supposed to be at least 10%).

The next chart gives more examples.
10 / 10
Adam Adam Double Top chart pattern

This double top (AB) didn't see price drop much (to C) before busting.

The End.

-- Thomas Bulkowski

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