The Tweezer Bottom is a minor bullish trend reversal candlestick pattern which is used to signal an end to current downtrend and indicates the beginning of an uptrend.
Signalling that price is in an area of support, the Tweezer Bottom is a two-candle chart pattern in which both candlesticks have identical lower lows. For accuracy, the two candlesticks should be of alternating colours and of differing height.
Ideally, the first candle in the Tweezer Bottom formation should be a large bodied bearish candle to confirm the current trend while the second candle should be a short bodied bullish candle indicating trend weakness and forecast a potential trend reversal.
Theoretically a bullish reversal pattern but according to Bulkowski – acting as a bearish continuation pattern in almost 52-percent of searches, the Tweezer Bottom pattern is considered more reliable when appearing at market lows, near support lines or at lower trend lines.