Tweezer bottom patterns are two candlestick patterns found near the bottom of downtrends or support levels. Its important to be able to spot these patterns for downtrend reversals.
A tweezer bottom is a candlestick pattern that forms as a bearish trend is turning bullish.
the reverse, a bullish tweezer bottom occurs during a downtrend when bears continue to take prices lower, usually closing the day near the lows (typically a strong bearish sign). If you already understand tweezer top and bottom formations, you can find commodities to practice it with on free broker demo accounts.
the widest classification of the tweezer bottom is simply where two adjacent candlesticks touch the same new price low. That is, the lower shadow of the two candlesticks should be near identical. A tweezer-bottom forms as the price reaches a low in a downtrend and stops.
The tweezer bottom candlestick pattern is a bullish reversal pattern that can be spotted at the bottom of a downtrend. It consists of two candles, where the first candle is in line with the bearish trend, while the second candle reflects more bullish market sentiment as the price bursts higher, in the opposite trend.
2nd day consists of a short body candle that has a low equal to the prior days low.
A tweezer bottom is a bullish reversal pattern seen at the bottom of downtrends and consists of two japanese candlesticks with matching bottoms. The matching bottoms are usually composed of shadows (or wicks) but can be the candles bodies as well. A tweezer bottom occurs during a downtrend when sellers push prices lower, often ending the session.