What is the Tweezer Candlestick Formation? Forex Trading ...

(Cont.) Strategy Analysis and Prep GJ - 11.11

(Cont.) Strategy Analysis and Prep GJ - 11.11
11.10.2019 analysis: https://www.reddit.com/Forex/comments/duoc68/uthefrozen_one_strategy_analysis_and_prep_gj/

DAILY SUPPLY AND DEMAND ANALYSIS

Monday - Definitely a day ruled by the bulls. Referencing my last post, there was not a whole lot that my trade entries (chosen before market) allowed me to do. A bit past the upper side of my chosen entry zone you will see a double top, and on the M5, it makes a pretty clean M pattern. However, because it was so extended, I simply didn't want to jump in and "Guess the Top". Those with better analysis than I may have seen the turning point as the perfect short, as it lined up with a high made on Nov 7 at about 10:45 just perfectly. Personally, I think it is difficult to decipher demand from noise on the M15, but today was a learning experience, as I was surprised to see so many levels blown out of the water by London's early moves. Lessons learned.
Anyhow, not much changed here in the larger time frames. Daily chart and H4 are creating a very nice volatility tunnel. A true tease, the guppy is not giving us much here. What really bothers me? On the daily chart, it looks as though the nearest upward spike peaked on Oct. 21. Look left and what do you see? Not a whole lot. Nothing in the way of major supply to stop the impulse we saw. Much like banks build their order book in the JPY session (depending on who you study), this appears to be the same thing only on a grander scale. Is the lack of supply/selling pressure enough to see this to 147.xxx in the coming month, or would the banks rather average down to better supply/price before making that same move...

POSITIONING OF POTENTIAL ENTRIES:

This pair is in a lot of noise, and as such, like yesterday, I am truly thrown off about whether to choose a long or short bias. Rather, I will simply determine two points at which I feel I have both allowed myself to allow the market to make its move as well as allowed for the over extension necessary for good R:R.
To the short side, I like an entry of around 140.58. The red "1", "2", and "3" represent any unfilled orders in the near term. the 3rd level is the most opportune in my humble opinion. Beyond that, there is significant room to run, so I will be looking for good signs of reversal before making my entry.
To the long side, I am more cloudy. At the very least, the US/AUD low provides some simply stop hunt opportunities, but this is not as far out as I'd prefer. the M15 Proximal demand zone shows a fairly text book rally-base-rally. However, being on the M15, I am not putting much behind it other than a zone to watch should the long stop hunt move get blown by. The 3rd level of demand listed with the Blue "3", provides a location with unfilled stops that stand the most to lose given the last trading day.

https://preview.redd.it/2bwwnzutj6y31.png?width=1915&format=png&auto=webp&s=dd16179dd0516b773abc6b099f572e03d8b4c2c8
All that said, I will wait and see which direction the market surges in London open (if at all), and then prep myself for the fade. Having looked through u/thefrozen_one trades, I am going to be looking for the following to assist my entry:
  • Sharp rejection at my chosen entries - I am still learning how to place these, so I will also be looking left for structure to provide confluence to my analysis in the moment.
  • M/W patterns on the M15 or M5
  • Tweezers/long wicks - again, looking for confluence here and not blindly trading wicks.
I appreciate those who entertain my rambling. At this stage, I am not anywhere near predicting the next move. However, this has been my first opportunity to consistently keep myself honest in analyzing and tracking a forex pair, free of indicator madness. I am excited to see my rather dry and ambiguous observances mature into confident bias with which I attack daily trades.
Green pips to all!
submitted by Rich_Foamy_Flan to Forex [link] [comments]

How to use tweezer bottom With Chart Episode 114: How To Trade A Tweezer Bottom in Forex Tweezer Tops and bottoms Candlestick Pattern  Forex CandleStick Bangla Tutorial  Forex School BD Tweezer Tops and Bottoms Candlestick Chart Pattern - YouTube Tweezer Tops & Tweezer Bottoms Candlestick Chart Patterns Episode 173: Trading with Tweezer Tops - Best Chart Patterns - Forex Trading Strategy Episode 106: Trading Tweezer Tops in Forex

Understanding the story behind the tweezer pattern is essential. Let’s use the tweezers pictured above starting with ... Best Places On Charts To Trade tweezer bottom and tweezer top candlestick patterns? So why is understanding the psychology of the formation of the tweezer important to you as a forex trader? Answer: so that when you see the tweezer tops and patterns form on important level ... Tag: Tweezer Pattern One of the main ways that forex traders make profits is by predicting and then following trends. This is why traders are always looking for signals that indicate that a trend may be reversing – it allows them to exit positions where they have been following a trend, and to establish new positions to profit from the trend reversal. 2. Technicals of Tweezer Top Patterns. Trading patterns allows traders to see when a change is coming. All those candlesticks on charts group together and make continuation or reversal patterns. Tweezer top patterns signal a reversal but patterns break down all the time. It's important to be able to see what other pattern the tweezer top is in. The formation of a large bearish candlestick after the tweezer tops becomes a confirmation that the bears/sellers have become stronger in the market. Hence a likelihood of change in trend. trading tweezers and harami pattern on Chart. Tweezer tops is shown below on the chart. The chart above shows an uptrend followed by a tweezers tops. The bullish Tweezer Bottom formation shown on the last page of the daily chart of Exxon-Mobil is shown below with a 15-minute chart spanning the two days the Tweezer Bottom pattern was emerging: Notice how Exxon-Mobil (XOM) stock went downwards the whole day on Day 1. That way I can see a tweezer bottom, or some other pattern forming near a daily moving average. Algos and traders alike look for setups like this. Trading tweezer bottoms is a good strategy on daily charts too. If you find a stock that is oversold on a daily chart, hits a historic support level on a weekly chart, and forms a tweezer bottom ... A tweezer is a technical analysis pattern, commonly involving two candlesticks, that can signify either a market top or bottom. more Sushi Roll Definition and Example Tweezer strategies are popularly used in forex, as well as options and futures trading. How to Identify the Tweezer Top Chart . For a chart to satisfy a tweezer top pattern the following must hold. Two adjacent candlesticks where one or both touch a new recent high; The first bar is a white and is followed by a black; The tops of the two bars should be level or nearly level; Because the ... Home Stock Charts Chart Patterns Technical Indicators. Thursday, November 12, 2020 7:32 PM. The Tweezers Top and Tweezers Bottom Patterns . Tweezers Top and Tweezers Bottom. The Tweezers pattern is a minor trend reversal pattern that consists of two candlesticks with more or less the same high or a same low or some variation thereof. It is the only candlestick pattern where the highs or lows ... What Is a Tweezer? Tweezers form when two consecutive candlesticks have equal, or very close to equal, highs (tweezer top), or lows (tweezer bottom) The equal highs or lows may also reflect the open or close of two consecutive candlesticks, or a combination of both; The colors of the candlesticks that form a tweezer generally don’t matter Tweezer form more often on smaller timeframe charts;

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How to use tweezer bottom With Chart

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