Double Japanese Candlestick Pattern
Double Japanese Candlestick Pattern is a reversal signal consisting of two candlesticks (read also: Japanese candlestick single pattern ). And the candlesticks that we will discuss are engulfing candlesticks, and twezzer bottom / tops candlesticks.
Bullish engulfing pattern is two candlesticks that indicate a possibility of a reversal will occur.This signal is formed when a bearish candlestick is followed by a strong or bigger bullish candlestick.
This second candlestick has the characteristics of its body shape swallowing or greater than the previous bearish candlestick. At this second candlestick the buyer’s traders really beat the seller traders so the price is far above the closing price of the previous trading session which is in the downtrend session.
On the other hand there is a bearish engulfing pattern which is the opposite of a bullish engulfing pattern which is formed during a bullish trading session. This pattern is formed after a bullish candle which is then swallowed by a bearish candle which indicates that the strength of the buyer’s traders is weak and it is time for sellers to enter and beat these buyers.
Bottom and Tops Twezzers
Twezzer is two candlesticks that are formed after a long journey of a trading session in an uptrend or downtrend and indicate that a signal reversal will occur immediately.
The following are the characteristics of the bottom and top twezzers
- The first candlestick is the same as the pattern of price movements, if the bearish price means that the first candlestick is a bearish candle
- The second candlestick is opposite to the second candlestick. If the market direction is bearish, this second candle is bullish candle
- The tail formed is the same length for both candlesticks on the twezzer bottom or top twezzer.