What is a tweezers ceiling?
A tweezers ceiling is when two or more candlesticks reach almost the same high price.
This indicates that the price has tested the top but was forced to sell at the same level.
The idea is similar to a short-term double top.
Points to see
| Points to see | meaning |
|---|---|
| exit in the high price range | Ceiling alert |
| stay at the same high price | There is upside resistance |
| Volume increases | Possibility of selling at a profit |
| break the most recent low price | Beware of downward turn |
Points to note
Even if a tweezers' ceiling appears, the price may continue to rise if it breaks through the top resistance.
What matters is which direction it moves after stopping at the same high. The longer the price cannot break out, the more likely it is that the price range will be perceived as upward resistance.
Summary
A tweezers ceiling is a pattern used to confirm the weight of the top price.
If the price goes up in the high range, it will be a good idea to take profits and manage your position. We will also look at whether it will break below the recent low price.