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- Hammers
Hammers
Hammer
- bullish reversal candlestick pattern --> appears at bottom of downward trend
- small white candle with long lower wick:
- during the day, bears have been controlling the trading and have pushed the price down.
- at the end of the day, bulls had enough strength to close at the high.
- long wick must be at least twice as long as the body of the candle.
Inverted Hammer
- bullish reversal candlestick pattern --> appears at bottom downward trend
- small white candle with long upper wick.
- long wick must be at least twice as long as the body of the candle.
- little or no lower wick.
- trading has been controlled by the bulls during the day.
- end of the day, bears have pushed down the price.
- closing price still higher than opening price though.
As a trader, you usually should wait for a higher open on the next trading day to confirm the bullish signal.
