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Japanese Candlestick Analysis

figure 14.22 Tweezers and Double Top on the 30‐Min Chart of EURUSD.

Source: MetaTrader 4

figure 14.23 A Bearish Engulfing Formation.

subsequently declined rapidly. Notice too, at the bottom right‐hand side of the

chart that another tweezers top pattern was formed, but it is not located at the

end of an uptrend, and hence unreliable. It was not confirmed by price. The over-

extended hammer was also not confirmed by price, but would have if the trigger

was set to the midpoint of the preceding candlestick.

Figure 14.22 shows a tweezers top being subsequently retested, creating a

double top in the process.

bearish engulfing