Tweezer Tops and Tweezer Bottoms:
The tweezers are dual candlesticks reversal patterns. This type of candlestick pattern could usually be spotted after an extended uptrend or downtrend, indicating a reversal is soon to occur. Notice how the formation looks just like a pair of tweezers.
The most effective tweezers have the following characteristics:
The first Tweezer candle is the same as the overall trend, if price is moving up, then the first candle should be bullish/ green (as displayed in the above left image)
The second candle is the opposite of the prevailing trend. If price has been moving up, then the second Tweezer candle should be bearish/ red. (as displayed in the above right image)
The shadows/ wicks of the candles should be of equal length. Tweezer tops should have the same highs (roughly) while Tweezer bottoms should have the same lows.
(Tweezer tops/bottoms are high probability price action reversal patterns that can be found on a range of timeframes. This setup is as powerful as the shooting star as it gives a clear indication that the price tried to reach higher on two occasions but was rejected, forming a clear point of resistance. These are best when traded from a point of previous resistance with a stop loss placed 10 PIPs above/below the shadow/wick highs or lows.