Tweezer Top A tweezers topping pattern occurs when the highs of two candlesticks occur at almost exactly the same level following an advance.
Like many other candlestick patterns, tweezers occur quite frequently.
Tweezers are more meaningful as part of other trends, especially pullbacks.
Script = Lupin
Time Frame = 1 Day
Tweezer
WHY NIFTY WENT UPWARDS SO MUCH ON THE MONTH OF APRIL
Cradle pattern (consisting multiple doji, hammer, hanging man) is a very strong reversal indicator. Nifty formed cradle pattern from 15th mar - 30th mar indicating strong reversal on the way
Tweezer Bottom is also a very strong reversal indicator and nifty formed this pattern on 24th mar, 27th mar & 28th mar (having tested thrice instead of twice) again indicating strong reversal
Bank Nifty symmetrical triangle Date--12-jan -2023
Hey Everyone As Per Bank nifty Chart bank nifty has formed Symmetrical triangle pattern in Daily Time Frame And Also Bank nifty Continue In Uptrend ..
Candle Stick Based
Bank Nifty Formed Tweezer Bottom Patterns Bullish pattern.
Buy Above 42350 If Sustain Then We Can See Good Upside Movement In BANKNIFTY.
Target 42700 43000
Stop loss Around 150 point .
Trade With Your Risk Management.
HONAUT- Tweezer Bottom at Strong Support LevelsFollowing Chart is of Honeywell Automation which Clearly shows Tweezer Bottom at the Support Level of @39130
The trend must get reversed with Targets anywhere around @48000 to @50000 if the Strong Resistance Level is Broken @45000
The RSI is just reversing from the Oversold Region which hints a nice time to buy.
All in all you will end up with a sweet 11% profit in short term even if you book the profits @45000
Risk averse traders might wait for another day to confirm.
Do follow for more trading setups like these
Thanks, if you have any queries/suggestions related to above pattern, feel free to type below in the comment section.
SAIL can go up if it beats latest Tweezer TopThe fib retracement drawn between the low on 19th April’21 and hight on 10th May’21 says it can retrace to 135 and then 150 levels.
But now it has formed a Tweezer Top pattern in the daily charts .
Levels to watch out for are 121.05 and 113.35-116.5, which are respected since 2007 and 2011 respectively. If they are breached downwards then those who are holding should be cautious.
Those who want to engage safely should wait till it goes up above 126.
If that happens, then target 1 should be 135 and target 2 should be 150. Stop loss under any of the supports which it respects.
PS: I am not a SEBI registered advisor. Enter in trades after reaching out to your advisors or at your own risk.
TWEEZER TOP - NIFTY - BEARISH REVERSAL ON CARDS TWEEZER TOP DESCRIPTION
>> BEARISH PATTERN, IDENTIFYING A RESISTANCE LEVEL
>> 2 OR MRE CANDLES WITH THE HIGH POINT ACHIEVING THE SAME LEVEL
>> CANDLES CAN BE EITHER COLOUR
PSYCHOLOGY
THE UPPER EXTREME OF THE SHADOW REPRESENTS AN AREA F RESISTANCE.
BULLS WERE NOT WILLING TO BUY ABOVE THIS PRICE, SO THE BEARS RETURNED IN FORCE
TO DRIVE THE PRICE BACK DOWN.
THE TWEEZER TOP FORMS WHEN 2 OR MORE CANDLE'S UPPER SHADOWS FORM AT THE SAME LEVEL,
CONFIRMING THE STRENGTH OF THIS RESISTANCE
AND THE LIKELYHOOD THAT THE UPTREND WILL EITHER PAUSE OR REVERSE TO A DOWTREND
TRADE PLAY -
NIFTY CAN BE SOLD @ CMP KEEPING STOP AT THE RESISTANCE LEVEL AND TARGET AS PER COMFORT
disclaimer - trade on own risk