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

  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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