After a long bearish trend, the hammer appears as a bullish reversal pattern. It features a short lower shadow and a small body.
Start looking for more clues that indicate the likely reversal when you see the inverted hammer candlestick formation. You can 'purchase' an uptrend to trade it (go long). You can'sell' if you believe the indication isn't strong enough and the downturn will continue (go short).
The hammer candlestick appears at the bottom of a downtrend and indicates a possible (bullish) market reversal. A hammer is a candlestick pattern that occurs when a stock opens lower than expected, then rallies back to near the starting price.
The hammer pattern is considered one of the most dependable indications in candlestick charting, especially when it appears after a long downturn and in an area where a security's price support is well established.
A bullish indicator is still a red Hammer candlestick pattern. The bulls were still able to stave off the bears, but they were unable to return the price to its opening level.
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SIR YOU ARE BEST TEACHING FOR THE TECHNICAL ANALYSIS IN STOCK MARKET, SIR ONE REQUEST FOR YOU SEND THE PDF OF CANDLESTICK PATTERNS,CHEART PATTRNS...
THANKS YOU SIR....
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