Reversal Stock Indices Candle Patterns - Hammer Candle Pattern
Reversal Candle-sticks Stock Indices Chart Patterns: Bullish Stock Indices Candle Patterns & Bearish Stock Indices Candle Patterns Tutorial
Reversal candlesticks patterns occur after an extended prior trend. Hence, for a candles pattern setup to qualify as a reversal candlesticks setup there must be a prior trend.
These reversal candle-sticks patterns are:
- Hammer Stock Indices Candles Pattern & Hanging Man Stock Indices Candle Pattern
- Inverted Hammer Stock Indices Candles Pattern and Shooting Star Stock Indices Candle Pattern
- Piercing Line Indices Candle Pattern and Dark Cloud Cover Stock Indices Candle Pattern
- Morning Star Candles & Evening Star Candles
- Engulfing Stock Indices Candles Patterns
Hammer Stock Indices Candles Pattern & Hanging Man Stock Indices Candle Pattern
Hammer Stock Indices Candlesticks Pattern and Hanging Man Candlestick Pattern candlesticks look alike but hammer candlesticks setup pattern is bullish reversal candlesticks pattern and hanging man is a bearish reversal candle pattern.
Hammer Stock Indices Candles Pattern & Hanging Man Stock Indices Candle Pattern
Hammer Stock Indices Candle Patterns
Hammer Candlesticks Pattern is a potentially bullish candle-stick pattern setup which forms during a downward indices trend. It's named so because the market is hammering a bottom.
A hammer candle pattern has:
- A small body
- The body is at the top
- The lower shadow is two or three times the length of real body.
- Has no upper shadow or very small upper shadow if present.
- The color of the body isn't important
Hammer Candle-sticks
Technical Analysis of Hammer Candlesticks Pattern
The buy signal is confirmed when a candle closes above the opening price of the candlestick on the left side of the hammer candles pattern.
Stop loss orders should be set a few pips just below the low of the hammer candle stick pattern.
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