The pattern is a short term reversal pattern. It has three peak formations with a taller peak in the center. The taller peak is called the head and the other two peaks are called shoulders. This pattern appears in a market, thus it is also known as Top.
The left peak usually appears followed by a rally. This extended uphill rally takes a breath or the prices come down a bit due to a small profit booking. After a small dip in the prices, the head is forming as the bulls gain the momentum once again and push the prices up.