Tweezer bottom & Tweezer top
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Tweezer Bottom Identification:
The first candle is a bearish candle with a long lower tail and small body.
The second candle is a bullish candle with a long lower tail and the closing price is the same as the opening price of the first candle.
Meaning of Tweezer Bottom:
On the first candle, sellers pushed the price lower and encountered some buying pressure.
On the second candle, the sellers tried to push the price down again but failed, and were eventually overwhelmed by strong buying pressure.
In short, the Tweezer Bottom tells you that bears are having a hard time trying to push the market further down twice without success and the bulls have prevailed. If you open the smaller bracket chart, you will see a double bottom formed.
Tweezer Top identification:
The first candle is a bullish candle and has a long upper tail and small body.
The second candle is a bearish candle with a long upper tail and the closing price is the same as the opening price of the first candle.
Meaning of Tweezer Top:
On the first candle, the bulls pushed the price higher and encountered some selling pressure.
On the second candle, the bulls tried to push the price up again but failed, and were eventually overwhelmed by strong selling pressure.
In short, the Tweezer Top tells you that the bulls are having a hard time as they tried twice to push the market up but failed and the bears had the upper hand.
