Tweezer tops forex charts

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AXIOM Business Books Awards, bronze medal. A top reversal is only possible AFTER an uptrend. A confirmation must appear one up to three candles after the pattern. This confirmation is a big black candle, high volume with the new down move, a falling window, or breaking support. A reversal pattern during price reaction must be considered a continuation pattern. For best results, you must combine candlestick patterns with Western technical analysis. An unconfirmed pattern has no further meaning.

In an uptrend, there is a small white body, not a doji, followed and enclosed by a bigger black body. Though not necessary, it is better when the black body also encloses the short shadows of the white candle. A bearish counterattack is a bigger white candle in an uptrend, followed by a bigger black candle. Closing prices of both candles are at the same price level.

A top reversal signal after confirmation. White-black and white-white combinations are the most common. A bearish harami cross pattern needs confirmation. A bigger white body, followed by one or more small black or white bodies with a rising window above the closing price of the first white body.

A bigger white body, followed by one or more doji’s with a rising window above the closing price of the first white body. This is a stronger reversal pattern than the evening star. An abandoned baby pattern is an evening doji star with a window between the doji and the white and black candle, resulting in an island reversal. The island can have more candles and more than one doji. A hanging man is a small white or black body close to the high price. It has a long shadow below, with a minimum size of twice the height of the body.