Candlestick Patterns | Bullish Tweezer Bottom

Bullish Tweezer Bottom

A tweezer (kenuki) bottom occurs when the lows of two or more candlesticks are equal in a series of candlesticks.
The lows of these days can also coincide with the open or close. These lows will later become support.
The tweezer bottom has a higher odds of success if it occurs in the context of a larger bull market.
The term tweezer sounds small, but it is not the size of the candlestick, but the fact the candlesticks have the same lows.

How to identify

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  1. 1st day consists of a long red body candle.
  2. 2nd day consists of a short body candle that has a low equal to the prior day’s low.

Psychology

The price action has trended downward then 2 consecutive days of equal lows signal support.
This could signal a short term bottom is forming.

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