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What is a Hammer Indices Candlesticks Pattern?


What Does Hammer Candlestick Mean? Hammer Candlestick Definition

Hammer stock indices candlestick pattern is a potentially bullish candlestick pattern that occurs during a downward indices trend. It is named so because the stock indexes trading market is hammering out a market bottom.


A hammer stock indices candlestick pattern has:


  • A small body

  • The body is at the top

  • The lower shadow is two or three times the length of the real body.

  • Has no upper shadow or very small upper shadow if present.

  • The color of the body is not important

What is a Hammer Candlestick in Indices Trading?

What is a Hammer Candlestick in Indices Trading? - Hammer Candlestick Indices Candlestick Pattern


Technical Analysis of Hammer Candlesticks

The buy stock indices signal is confirmed when a candlestick closes above the opening stock indexes price of the candlestick on the left side of the hammer stock indices candlestick pattern.


Stop orders should be place a few pips just below the low of the hammer candlestick.

 

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