ACADEMY
Tweezer Tops and Tweezer Bottoms
Basic Forex Education (12)
Chart Formation Patterns (13)
Fibonacci (4)
Understanding Candlesticks (13)
Lesson 9
Tweezer Tops and Tweezer Bottoms
Welcome to Lesson 9 of the Candlestick Signals series by PROP365. In this video, we explain the tweezer tops and tweezer bottom candlestick patterns, and how to apply them effectively in forex trading.
What Are Tweezer Tops?
Tweezer tops are a bearish reversal pattern made up of two candlesticks with similar highs. While they don’t require long upper shadows, the signal is more reliable when these shadows are present.
Formation:
- In the first session, bulls drive the price higher.
- Bears step in, reject the high, and pull the price down.
- The second session starts similarly with bulls pushing higher.
- Again, bears reject the high and close the session lower.
Although the order of candlesticks can vary, the pattern is stronger when the second candle is bearish. Because tweezer tops occur after an uptrend, they act as a bearish reversal signal and should only be considered in that context.
Read MORE