Monday, August 20, 2012

Tweezer top formation was spotted at 15 Min Nifty chart


Tweezer Tops

The Tweezer Top formation is a bearish reversal pattern seen at the top of uptrends 
Tweezer Top  formation consists of two candlesticks:
  • Bullish Candle 
  • Bearish Candle 

bearish Tweezer Top occurs during an uptrend when bulls take prices higher, often closing the day off near the highs (a bullish sign). However, on the next candle , how traders feel (i.e. their sentiment) reverses completely. The market opens and goes straight down, often eliminating the entire gains of candle 1.
we spotted same at 15 minute nifty chart on 17 Aug 12...

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