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Hammer

High profit candlestick patterns Here we will cover the well-known candlestick patterns for informational purposes only. The schematics on the left show how it may look in the real chart. Every pattern has a funny name and brief description. Important to note, a reversal pattern does not necessarily result in complete trend reversal, but a minor change or pause in price action. Bullish reversal patterns This category of candlestick patterns signals a potential trend reversal from bearish to bullish. Before a pattern appears, you should identify a short-term downtrend. We will talk about trend definition later in Hammer Hammer is a candlestick with a small body, long lower shadow as compared to the body and very short or no upper shadow. This implies that sellers cover their positions. Color of the hammer is not important here.

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Hammer| 11 Jul 2018
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