Tweezer Bottom

The Tweezer Bottom candlestick pattern is the bullish version of the Tweezer Top pattern.

This two candle pattern occurs in a downtrend and requires two candles, either bearish or bullish, to have identical lower lows.

In theory, lower wicks that share a price point are supposed to signal that that price level is an area of support. According to Bulkowski’s testing, however, the Tweezer Bottom candle pattern acts as a bearish continuation pattern just as often as it acts a bullish reversal pattern.

Out of 100+ candlestick patterns the Tweezer Bottom ranks middle of the pack, so while this candle pattern might be a good piece of confirmation that a shift in price direction is coming, all-in-all it should be traded with caution and requires confirmation

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