The Tweezer Bottom candlestick pattern is a powerful bullish candlestick reversal pattern.
It consists of two candles. It occurs in a downtrend siginfying that the end of the downtrend is near and the beginning of the uptrend is in progress.
Tweezer Bottom Candlestick Pattern
For the candlestick reversal pattern to be confirmed as the Tweezer Bottom Candlestick Pattern following criteria must be fulfilled:
The opposite is true for the case of the tweezer top candlestick pattern.
The text book perfect Tweezer Top is formed infrequently.
Sine the candlestick analysis is a subjective notion, the details on the formation of candlestick reversal pattern as explained above might change from one trader to another from their viewpoint of experience and knowledge base.
Even though we stated two candles required for the formation of the tweezer bottom candlestick pattern, some traders might as well consider more than two candles.
In the real world example, two candles with equal wick height within few pips and few more candles in between them is often seen.
Have your say about what you just read! Leave me a comment in the box below.