Tweezer Pattern

Tweezer Pattern

These two-candlestick reversal patterns appear as either the tops or bottoms of trends in which two consecutive candlesticks share either a high or low, but represent movements in opposite market directions. In the case of a tweezer top, the first bullish candlestick occurs in an uptrend and closes near the same level as its high, which then becomes the high of the second candlestick, which moves bearishly downwards throughout the day.
A tweezer bottom is the opposite, wherein an initial bearish candlestick continues a downtrend, closing at or near a new low, which then becomes the low price of a consequent bullish candlestick. Tweezers indicate that once price reached a significant level (the top or bottom shared by the two bars), there was a transfer of dominance between bears and bulls. As noted previously, it is similar to the Piercing Line and Dark Cloud Cover patterns.