Tweezers Top, correction is possible!

13 ott 2021

A tweezers topping pattern occurs when the highs of two candlesticks occur at almost exactly the same level following an advance.
A tweezers bottom occurs when two candles, back to back, occur with very similar lows.
Like many other candlestick patterns, tweezers occur quite frequently.
Tweezers are more meaningful as part of other trends, especially pullbacks.

There are additional criteria. The first candle should have a large real body (the difference between open and close). However, the second candle can be pretty much any size. Therefore, the two candles may look quite different. For example, in a tweezers top, the first candlestick may be a strong-up candle, closing near the high. On the other hand, the second candle may be a Doji—a cross-shaped, neutral candlestick pattern—that doesn't close near the high but still has a similar high to the first candle.

reference Article:
https://www.investopedia.com/articles/active-trading/040714/tweezers-provide-precision-trend-traders.asp#:~:text=A%20tweezers%20top%20is%20when%20two%20candles%20occur,momentum%20between%20the%20first%20candle%20and%20the%20second.

15 ott 2021

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