Thursday, June 25, 2009

Tweezer Tops

I mention the Tweezers Top pattern a few times here.  It is a good pattern for a reversal, but on the flipside of that there is the Tweezers Bottom candles.  Today we had an example of this bullish reversal candlestick pattern.

Yesterday's ending candle's low was 896 and today the market touched this level again forming the tweezer bottom candlestick pattern.  Then the market never looked back.