Draw two curved segments connected by a corner

Using the Pen tool, drag to create the first smooth point of a curved segment.
Reposition the Pen tool and drag to create a curve with a second smooth point; then press and hold Alt (Windows) or Option (Mac OS) and drag the direction line toward its opposing end to set the slope of the next curve. Release the key and the mouse button.
This process converts the smooth point to a corner point by splitting the direction lines.
Reposition the Pen tool where you want the second curved segment to end, and drag a new smooth point to complete the second curved segment.

Drawing two curves

A.: Dragging a new smooth point
B.: Pressing Alt/Option to split direction lines while dragging, and swinging direction line up
C.: Result after repositioning and dragging a third time