Courtesy of Market Tamer
- The Tweezers Bottom consists of at least two candles with close to identical lows and derives its’ name from the resemblance to a pair of tweezers.
- I like to see wicks on both candles to the downside rejecting lower price levels.
- The classic Tweezers Bottom should have a longer bearish candle for the first candle followed by a smaller real body; although that configuration is not a hard fast rule.
- The Tweezers Bottom is more credible in longer timeframes such as weekly and monthly charts.
- The Tweezers Bottom should be followed by a bullish confirmation candle on increasing volume.
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