Tweezers Top

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Figure 1.

Figure 1. Tweezers Top pattern.

Japanese name: kenukitenjo
Forecast: bearish reversal
Trend prior to the pattern: uptrend
Number of candle lines: 2, 3, 4 or more
Opposite pattern: Tweezers Bottom

Construction:

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

 


The Tweezers Top is classified as a two-line pattern although it may be composed of more than two candles. It acts as a bearish reversal.

The first line can be any candle in an uptrend of any color except the Four-Price Doji. The subsequent candles may be of any color and type, except the Four-Price Doji, but all high prices need to be equal.

The Tweezers Top may be a part of other patterns in an uptrend. It has to be confirmed on the following candles.

 

Figure 2.

Figure 2. The Tweezers Top (similarly as the Tweezers Bottom) is distinguished by having two or more candle lines. The only requirement is that all candles share the same high price. The market context is the most important factor when it comes to the pattern reliability.
On the chart, a Tweezers Top is composed of three lines. The third line of the pattern forms a Hanging Man pattern. On top of that the Hanging Man is the first line of a Bearish Engulfing pattern. Shortly the bears push the price much lower, and an Opening Black Marubozu basic candle is formed.
It is worth to mention that the Bearish Engulfing pattern is hardly visible on the chart. Such situations happen quite often when looking at the candlestick charts. Depending on the given chart using different scale/zoom we can interpret the chart differently. In the case of the Bearish Engulfing, the second line is a long line. However looking with the naked eye most probably we would consider that Black Candle as a short candle. Using specialized software like CandleScanner helps to be more objective when assessing the market.

 

Figure 3.

Figure 3. The occurrence of Tweezers Top is followed by a Rising Window, which indicates that the bulls are still in control of the stock. The price gap formed by the Rising Window is shallow -- barely 2 cents. Nevertheless, it cancels the Tweezers Top appearance.

 

Tweezers Top statistics

Below you can find some Tweezers Top 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 Top
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 Top): 24,629
Number of occurrences (all candlestick patterns): 638,570
% of occurrences (Tweezers Top): 3.86 %
Average frequency: 90.8
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
7 4,296 8,643 4,831 6,852
% of
Occurrences
0.03 % 17.41 % 35.09 % 19.62 % 27.85 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
18 4,021 7,022 4,429 9,139
% of
Occurrences
0.07 % 16.26 % 28.51 % 17.98 % 37.18 %

 

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
DVN 50 100.7 25 50.00 % 34 68.00 %
PWR 46 95.1 25 54.34 % 30 65.21 %
TROW 46 109.4 20 45.65 % 26 58.69 %
BHI 47 107.1 23 48.94 % 27 57.44 %
REGN 70 71.9 40 57.14 % 40 57.14 %
KMX 52 89.1 26 50.00 % 29 55.77 %
TMO 56 89.9 22 39.29 % 31 55.36 %
PCAR 51 98.7 21 41.17 % 28 54.90 %
AAPL 105 47.9 53 50.48 % 57 54.29 %
NBL 58 86.8 24 41.38 % 31 53.46 %

 

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
CELG 105 47.9 47 44.76 % 47 44.76 %
HUM 51 98.7 21 41.18 % 21 41.18 %
MNST 109 40.1 44 40.37 % 44 40.37 %
LVLT 48 90.4 19 39.58 % 19 39.58 %
VRTX 51 98.7 19 37.25 % 19 37.25 %
MHK 53 95.0 20 37.74 % 19 35.85 %
LH 83 60.7 29 34.94 % 29 34.94 %
PXD 57 88.3 19 33.33 % 19 33.33 %
GMCR 134 37.2 43 32.09 % 43 32.09 %
ESV 52 96.8 16 30.77 % 16 30.77 %
Pattern name: Tweezers Top
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 Top): 3,209
Number of occurrences (all candlestick patterns): 166,328
% of occurrences (Tweezers Top): 1.93 %
Average frequency: 191.3
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
7 437 1,440 687 638
% of
Occurrences
0.22 % 13.40 % 44.87 % 21.41 % 20.10 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
18 376 1,171 672 972
% of
Occurrences
0.56 % 11.16 % 36.49 % 20.94 % 30.85 %

 

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
CME 9 139.8 3 33.34 % 8 88.89 %
EA 6 209.7 4 66.67 % 5 83.33 %
COH 5 251.6 3 60.00 % 4 80.00 %
GPS 5 251.6 4 80.00 % 4 80.00 %
UA 9 139.8 6 66.67 % 6 77.78 %
GNW 12 104.8 7 58.34 % 8 75.00 %
PWR 8 157.3 5 62.50 % 6 75.00 %
MU 7 179.7 4 57.14 % 5 71.42 %
SPLS 10 125.8 6 60.00 % 7 70.00 %
NDAQ 6 209.7 2 33.34 % 4 66.67 %

 

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
CI 7 179.7 3 42.86 % 3 42.86 %
MA 7 179.7 3 42.86 % 3 42.86 %
VLO 7 179.7 3 42.86 % 3 42.86 %
CVX 5 251.6 2 40.00 % 2 40.00 %
DRI 10 125.8 4 40.00 % 4 40.00 %
SNI 5 251.6 2 40.00 % 2 40.00 %
LVLT 13 96.8 5 38.46 % 5 38.46 %
BAX 8 157.3 3 37.50 % 3 37.50 %
DD 8 157.3 3 37.50 % 3 37.50 %
OMC 8 157.3 3 37.50 % 3 37.50 %

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