A trading range where there is an exhaustion gap up, then prices trade in a narrow range for a few days, then there is a breakaway gap down. This leaves a sort of island of prices in the middle. The reverse happens at an island bottom reversal. E-K L-O P-R U-Z

Created when the market "gaps" up, trades for a few days, and then "gaps" down later. A reliable formation, but there is no basis for projecting the emerging price move.

a pattern consisting of two gaps in opposite directions