What is the importance of a M candle chart?

<p id="isPasted">The "M candle chart" refers to the M pattern, also known as a double top, a bearish reversal pattern on candlestick charts. It's characterized by two price peaks (tops) and a trough (lower high) between them, indicating a potential decline in price after a temporary rise.&nbsp;</p><p>Bearish Reversal:</p><p>The M pattern is a signal that the market might be transitioning from an uptrend to a downtrend, suggesting potential selling pressure.&nbsp;</p><p>Two Peaks and a Trough:</p><p>The pattern features two distinct peaks where the price initially rises, then falls slightly, and then rises again to a lower high before a significant decline.&nbsp;</p><p>Separation:</p><p>The trough between the two peaks is crucial. It's a lower high, meaning the second peak is not as high as the first.&nbsp;</p><p>Candlestick Chart Representation:</p><p>The two peaks and trough are easily identifiable using candlestick charts, where each candle represents price movement over a specific time period.&nbsp;</p><p>Trading Implication:</p><p>If an M pattern forms, traders might consider selling or shorting the asset, as the pattern suggests a potential downward move in price.&nbsp;</p>