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
The 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...
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
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...