The Tweezer Bottom is a two-candle reversal pattern that appears after a decline.
Both candles share a similar low, signaling that sellers failed to push beyond that level.
This strategy goes long after the second candle confirms the shared bottom, anticipating a bounce as selling pressure dries up.
Stops are placed just beneath the common low to manage risk, and the position exits if price fails to rally.
Entry Criteria: pattern match
Long/Short: Both
Exit Criteria: stop-loss or opposite signal
Stops: Yes, percent based
Default Values:
CandleType = 15 minute
StopLoss = 2%
[*]Filters:
Category: Pattern
Direction: Both
Indicators: Candlestick
Stops: Yes
Complexity: Intermediate
Timeframe: Intraday
Seasonality: No
Neural networks: No
Divergence: No
Risk level: Medium