Tweezer Tops
The Tweezer Top formation is a bearish reversal pattern seen at the top of uptrends
Tweezer Top formation consists of two candlesticks:
- Bullish Candle
- Bearish Candle
A bearish Tweezer Top occurs during an uptrend when bulls take prices higher, often closing the day off near the highs (a bullish sign). However, on the next candle , how traders feel (i.e. their sentiment) reverses completely. The market opens and goes straight down, often eliminating the entire gains of candle 1.
we spotted same at 15 minute nifty chart on 17 Aug 12...
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