Tweezer Tops and Bottoms
Tweezer tops are multiple candlesticks where the highs of those candlesticks are equal. In contrast, tweezer bottoms are multiple candlesticks where the lows of those candlesticks are equal. The candlesticks that create a tweezer top or bottom can be made of real bodies or shadows or dojis. According to Nison (1991, p. 88), tweezers should not be considered as important reversal patterns in and of themselves, but should be combined with other candlestick patterns.
Tweezer Top and Bottom Candlestick Chart Examples
The chart above of the Gold ETF (GLD) demonstrates how other candlestick patterns can conform to the tweezer top and tweezer bottom concept. The first example is a bearish engulfing pattern where the high of the second day bearish candlestick’s high is equivalent to the previous day’s high. The next is a harami pattern where the high of the second day’s small bearish candlestick is roughly the same high as the first day’s bullish candlestick. The next example shows the lows of four candlesticks being equal with a couple of hammer patterns lower shadows testing support. After that is yet another bearish engulfing pattern example, that illustrates the high of the second day being equal to the high of the first day. Lastly, a modified piercing pattern is shown where the lows are equivalent.
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- Rockefeller, B. (2011). Technical Analysis For Dummies (2nd ed.). Hoboken: John Wiley & Sons.
- The Pattern Site. (2008). Bulkowski's Measure Rule. Retrieved June 1, 2012, from http://thepatternsite.com/measure.html