The Tweezers Top and Tweezers Bottom Candlestick Patterns
Tweezers Top and Tweezers Bottom
The Tweezers candlestick pattern is a minor trend reversal pattern that consists of two candlesticks with more or less the same high or a same low or some variation thereof. It is the only candlestick pattern where the highs or lows are the most important factor rather than the body or the shape of the candles. If the Tweezers pattern appears in an uptrend, it is called a Tweezers Top and should have the same high. If it appears in a downtrend it is called a Tweezers Bottom and should have the same low. In addition, the two candlesticks should have alternating colors with the first confirming the current trend and the second indicating weakness. The pattern is more reliable when the first candlestick is has a large real body while the second candlestick has a short real body. It is also more reliable when the Tweezers pattern is confirmed or makes another pattern, such as an Engulfing or Piercing pattern with identical highs or lows.
Tweezers Top
The Tweezers Top pattern appears in an uptrend. The first candlestick in this pattern should be a bullish candlestick with a large real body followed by a bearish candlestick with a short real body. The two candlesticks must have either the same high or their real bodies should be at the same high level. The pattern is more reliable when seen in the context of the broader price chart with the pattern appearing at market highs, or near resistance or trend lines.
Tweezers Bottom
The Tweezers Bottom pattern appears in a downtrend with the first candlestick being a dark, bearish candlestick with a large real body, followed by a bullish candlestick with a short real body. The two candlesticks must have either the same low or the bottom of their real bodies should be at the same level. The pattern is more reliable when it appears at market lows, or near support lines or at lower trend lines.