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: June 6, 2021
: Prashant Shah
P&F Tweezer pattern was introduced in the book Trading the Markets the Point & Figure way. It is a horizontal accumulation-distribution pattern made objective via P&F charts.
The pattern can be explained as a follow-through action to consolidation between two anchor columns.
The P&F Tweezer bullish formation rules are:
Consolidation between two anchor columns forms the Tweezer pattern
Second Anchor column should be bullish for the bullish tweezer pattern
Maximum 6 columns between two anchor columns
Plot Bullish aggressive horizontal count when tweezer gets formed
A column breakout in any of the subsequent columns, activates the tweezer and the count
The bullish pattern gets negated when bottom of the pattern gets broken
A – First Anchor column – Minimum 10 boxes in the column.
B – Consolidation – not more than 6 columns.
C – Second Anchor column – Minimum 10 boxes in the column.
D – Tweezer gets formed – Consolidation is completed.
E – Tweezer gets activated – follow-through action that activates the tweezer and horizontal count.