Here is an example of strategy when you see the appearance of the Tweezers pattern filtered by RSI at the overbought area, during the course of a rally.

Consider selling when the next candle falls below the low price of the black candlestick.

Consider placing a protective stop loss at the top of the pattern.

Take-Profit strategy is heavily dependent on the trading profile of each individual:

  1. Close 50% of the position when price travels 100% the length of the pattern, then close the remaining 50% when price reaches the 200% of the pattern or at the presence of a reversal candlestick pattern below the SMA(20).
  2. Other combinations may be applied.
1

XMXM

4.9 rating based on 1,166 ratings
4.9/5 1166
2

DerivDeriv

4.9 rating based on 143 ratings
4.9/5 143
3

LQDFXLQDFX

3.5 rating based on 93 ratings
3.5/5 93
4

FBSFBS

3.6 rating based on 99 ratings
3.6/5 99
5

FXTMFXTM

3.9 rating based on 43 ratings
3.9/5 43
1

PrimeBitPrimeBit

3.9 rating based on 7,130 ratings
3.9/5 7130
2

BinanceBinance

4.3 rating based on 7,662 ratings
4.3/5 7662
3

bybitbybit

4.2 rating based on 3,323 ratings
4.2/5 3323
4

XBTFXXBTFX

1.9 rating based on 4,449 ratings
1.9/5 4449
5

BitMEXBitMEX

3.8 rating based on 6,911 ratings
3.8/5 6911