A ratcheting mechanism includes a main body having an annular ring and two channels on opposite sides of the main body extending toward the annular ring. The two channels are adapted to receive pawls rotatably urged outward by a biasing element to selectively engage ratcheting teeth. An adjusting ring is positioned over the main body. The position of the adjusting ring determines the operational direction by selectively disengaging one of the pawls. The main body has an engagement end fixing the ratcheting mechanism to a handle body.