Tweezers Bottom

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Figure 1.

Figure 1. Tweezers Bottom pattern.

Japanese name: kenukizoko
Forecast: bullish reversal
Trend prior to the pattern: downtrend
Number of candle lines: 2, 3, 4 or more
Opposite pattern: Tweezers Top

Construction:

  • First candle
  • Second candle
    • any candle except the Four-Price Doji
    • any color
    • the low price equal to the previous low price
  • Every subsequent day
    • any candle except the Four-Price Doji
    • any color
    • the low price equal to the previous low price

 


The Tweezers Bottom is classified as a two-line pattern although it may be composed of more than two candles.

The first line can be any candle of any color except the Four-Price Doji. The subsequent candles may be of any color and type, except the Four-Price Doji. Additionally all low prices need to be equal.

The Tweezers Bottom may be a part of other patterns in a downtrend. It has to be confirmed on the following candles.

The pattern rarely occurs.

 

Figure 2.

Figure 2. The first line of a Tweezers Bottom cancels an Inverted Hammer occurrence. It is worth to pay attention to the first line of the Inverted Hammer which is a Black Candle formed at a high trading volume above the average. This candle may act as a strong resistance in the future.
The Tweezers Bottom is confirmed by the following candle which is a White Candle. The appearance of a Long White Candle shows that the bulls are in control of the market. The Long White Candle will act in the future as the support.

 

Figure 3.

Figure 3. A Tweezers Bottom pattern is not confirmed on the following candle. A Falling Window, formed at a high trading volume, creates a strong resistance zone. The bears are in control of the market.

 

Tweezers Bottom statistics

Below you can find some Tweezers Bottom pattern statistics calculated by CandleScanner software. To see more detailed statistics, for other markets and periodicity try our CandleScanner software. Prices start at only $10, and you can see more detailed statistics, for other markets and periodicity. Click here to find out more!

Pattern name: Tweezers Bottom
Scanner settings: daily stocks
Group: S&P500
Number of symbols: 502
Date range: 7/1/1995 - 6/30/2015
Time interval: daily candles
Total number of candlesticks: 2,236,421
Number of occurrences (Tweezers Bottom): 19,177
Number of occurrences (all candlestick patterns): 638,570
% of occurrences (Tweezers Bottom): 3.00 %
Average frequency: 116.6
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
9 3,696 5,237 3,516 6,719
% of
Occurrences
0.05 % 19.22 % 27.31 % 18.33 % 35.09 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
12 3,472 4,144 2,910 8,639
% of
Occurrences
0.06 % 18.05 % 21.61 % 15.17 % 45.11 %

 

10 top best performing symbols

Occurrences Statistics 5 candlesticks testing period
(HIGH efficiency)
10 candlesticks testing period
(HIGH efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
CTSH 41 104.5 26 63.41 % 26 63.41 %
PDCO 56 89.9 30 53.57 % 35 62.50 %
TSN 75 67.1 32 42.66 % 46 61.34 %
PXD 49 102.7 24 48.97 % 30 61.22 %
HAS 43 117.1 21 48.84 % 26 60.47 %
MO 45 111.9 17 37.77 % 27 60.00 %
EMC 37 136.1 18 48.64 % 22 59.45 %
FOXA 61 79.7 26 42.63 % 36 59.02 %
IPG 39 129.1 17 43.59 % 23 58.97 %
TJX 56 89.9 27 48.22 % 33 58.93 %

 

10 top worst performing symbols

Occurrences Statistics 5 candlesticks testing period
(FALSE efficiency)
10 candlesticks testing period
(FALSE efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
EQIX 41 91.3 29 70.73 % 28 68.29 %
CHK 89 56.6 48 52.81 % 48 52.81 %
LH 118 42.7 61 51.69 % 60 50.85 %
CELG 92 54.7 44 47.83 % 44 47.83 %
WDC 54 93.2 22 40.74 % 22 40.74 %
ETFC 52 91.3 21 40.38 % 21 40.38 %
BF.B 35 143.8 14 40.00 % 13 37.14 %
SNDK 47 105.2 17 36.17 % 17 36.17 %
RRC 92 54.7 33 35.87 % 33 35.87 %
REGN 79 63.7 27 34.18 % 27 34.18 %
Pattern name: Tweezers Bottom
Scanner settings: daily stocks
Group: S&P500
Number of symbols: 502
Date range: 7/1/2010 - 6/30/2015
Time interval: daily candles
Total number of candlesticks: 614,034
Number of occurrences (Tweezers Bottom): 1,780
Number of occurrences (all candlestick patterns): 166,328
% of occurrences (Tweezers Bottom): 1.07 %
Average frequency: 345.0
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
9 213 626 443 489
% of
Occurrences
0.51 % 11.46 % 35.17 % 24.89 % 27.97 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
12 180 467 366 755
% of
Occurrences
0.67 % 9.44 % 26.24 % 20.56 % 43.09 %

 

10 top best performing symbols

Occurrences Statistics 5 candlesticks testing period
(HIGH efficiency)
10 candlesticks testing period
(HIGH efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
EFX 3 419.3 1 33.34 % 3 100.00 %
EMC 4 314.5 3 75.00 % 4 100.00 %
ESV 3 419.3 2 66.67 % 3 100.00 %
FOXA 6 209.7 5 83.33 % 6 100.00 %
GRMN 4 314.5 3 75.00 % 4 100.00 %
LEG 4 314.5 3 75.00 % 4 100.00 %
MYL 3 419.3 3 100.00 % 3 100.00 %
SBUX 4 314.5 4 100.00 % 4 100.00 %
SEE 4 314.5 4 100.00 % 4 100.00 %
STZ 3 419.3 2 66.67 % 3 100.00 %

 

10 top worst performing symbols

Occurrences Statistics 5 candlesticks testing period
(FALSE efficiency)
10 candlesticks testing period
(FALSE efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
CNX 4 314.5 3 75.00 % 3 75.00 %
SE 4 314.5 2 50.00 % 2 50.00 %
FSLR 7 179.7 3 42.86 % 3 42.86 %
TRV 7 179.7 3 42.86 % 3 42.86 %
WFM 7 179.7 3 42.86 % 3 42.86 %
DISCK 5 251.6 2 40.00 % 2 40.00 %
PWR 5 251.6 2 40.00 % 2 40.00 %
THC 5 251.6 2 40.00 % 2 40.00 %
HBI 8 157.3 3 37.50 % 3 37.50 %
LOW 8 157.3 3 37.50 % 3 37.50 %

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