Tweezers pattern consists of two or more candles with equal Highs or Lows. Name of the model derived from the pattern resembles form of the forked teeth of the tweezers.
On rising market the pattern occur when there are two bars with the same High level in a row; such pattern has a name Tweezers Top. On falling, market such pattern required two identical Lows in a row and named as Tweezers Bottom. A form of candles which form such patterns can vary. Tweezers-type patterns are not reliable reversal signals, so need confirmation. The significance of patterns rises with the length of the trend. Many patterns can also be interpreted like Tweezers. The picture below shows the different patterns that has two meanings.
On the Pic.1 candle opens close to the previous Low then rises to the previous High and falling to the Open level. Such formation can also be Harami pattern and has strong reversal meaning.
On the Pic.2 long, rising candle and Hanging Man, candle forms Tweezers Top. If such formation will get confirmation from the next candle, then the market has reached the top. Picture 3 shows Falling Star pattern, paired with the previous candle forms Tweezers Top.
High of the black candle (falling candle) rises to the level of previous High and then falling to the candle low again, such formation also can be interpreted as Tweezers Top (Pic.4).
On the Pic.5 Hammer, the pattern has the same Low with previous candle Low. Hammer by itself and its successful test o the support level proves that sellers lose control. Pic.6 shows bullish figure Piercing Lines at the same time being the base of the Bottom Tweezers. However, Piercing Lines model has a deviation from the original structure: the second candle opens lower than previous Close price but not lower than previous Low. It is not all variations of Tweezers model. Mix this model with other figures helps to confirm the reversion of the trend.