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Thursday, March 28, 2024

Improve Your Market Timing: The Tweezers Bottom Candlestick Pattern

 Courtesy of Market Tamer

  • The Tweezers Bottom consists of at least two candles with close to identical lows and derives its’ name from the resemblance to a pair of tweezers.
  • I like to see wicks on both candles to the downside rejecting lower price levels.
  • The classic Tweezers Bottom should have a longer bearish candle for the first candle followed by a smaller real body; although that configuration is not a hard fast rule.
  • The Tweezers Bottom is more credible in longer timeframes such as weekly and monthly charts.
  • The Tweezers Bottom should be followed by a bullish confirmation candle on increasing volume.

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