Tweezer Tops and Bottoms:
The Tweezers are a duo candlestick pattern. This type of candlestick formation is mostly spotted after a long up or downtrend. It indicates a reversal in the near future. This is what the Tweezers look like.
Most effective Tweezers have the following characteristics:
– First Tweezer has tob e in line with the trend. So when to market is in an uptrend the first Tweezer has to be Bullish (green).
– Second Tweezer is the opposite of the trend. When prices are moving up the second Tweezer has to be Bearish (red).
– The shadows of the Tweezers have to be the same length. Tweezer tops have to have the same highs while Tweezer bottoms have to have the same lows.
Tweezer tops and bottoms tend to give us a high probability of a reverse of the Price Action. Could be found at lots of different time frames. This formation is just as powerful as the Shooting Start since it clearly indicates that the price tried to move up but was rejected twice. Overall a good sign of Resistance.