Pipe Top Chart Pattern — How to Spot and Trade It
7/6/2026
Two adjacent tall spikes at a high (clearest on weekly charts) — a double stab that fails.
In plain words
Two flagpoles planted side by side at the summit — then everyone descends.
What the classic books say
The Pipe Top is a reversal pattern with reference reliability Medium and illustrative behaviour of ~70% follow-through on confirmation (the kind of statistics catalogued in Bulkowski's encyclopedic pattern studies and Murphy's technical-analysis classic). Best seen on weekly timeframes.
Level by level
Beginner
Two sharp pokes to the same heights, then a fall — the highs get rejected twice in a row.
Intermediate
Adjacent wide-range spikes with overlapping highs show urgent selling into strength.
Advanced
Weekly-chart pipes are the classic form; confirm on the break of the spikes' base.
Trade plan (educational template)
- Entry: On the close below the lower of the two spike lows.
- Stop-loss: Above the twin spikes.
- Target: Spike height projected below the base.
- Check the numbers with the Risk-Reward calculator before any entry.
Common beginner mistakes
- Hunting pipes on noisy intraday charts
Practise it now
_Educational content only — not financial advice. Historical behaviour never guarantees future results._
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