The Ultimate Guide to Candlestick Charting by Alex Richards

The Ultimate Guide to Candlestick Charting by Alex Richards

Author:Alex Richards
Language: eng
Format: epub
Tags: Candlestick Charting for beginners, Candlestick Charts explained, Candlestick Charting, Technical analysis for beginners, Technical analysis explained
Publisher: 21st Century Publishing Ltd
Published: 2022-05-23T00:00:00+00:00


Types of High Probability Bullish

Candlestick Patterns

Hammer Candlestick Pattern

A bullish hammer can be described as a lone candle that stays within the price chart to reflect a bullish reversal. It is quite different from the other candlestick patterns in the sense that it is a single candle that projects a change during an already existing downtrend.

The hammer candlestick pattern is so-called because of its shape which looks like a hammer. The lower wick of this candlestick pattern is two times higher than the size of the actual body. The body of the hammer candlestick, however, reflects the distance between the opening and closing prices. The shadow, on the other hand, reflects the high and low prices of a given period.



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