100 Days Learning Series📈 DAY 5: Hammer Candlestick
💫Introduction: - The Hammer candlestick is a popular and powerful pattern used in technical analysis to identify potential reversals in the price direction of an asset. - It is a single-candle pattern that appears frequently on price charts and is particularly valued by…
💫Characteristics of the Hammer Candlestick: 🌴Structure: 👉Body: The body of a Hammer candlestick is relatively small, indicating a small difference between the opening and closing prices. 👉Lower Shadow: The lower shadow (or wick) is at least twice the length of the body,…
💫Significance of the Hammer Candlestick: 🌴Indicates Potential Reversal: The Hammer pattern typically appears at the bottom of a downtrend, suggesting that selling pressure may be subsiding and a reversal to an uptrend could be imminent. 🌴Market Psychology: The long lower…
💫Confirmation and Trading Strategy: 🌴Confirmation: - For a Hammer pattern to be considered a strong reversal signal, it should be confirmed by subsequent price action. This could be a bullish candlestick closing above the Hammer’s close. - Volume analysis can also provide…
💫Example:
💫Screener of Bullish Hammer Candlestick: https://t.co/2JsAt0Vda7 BOOKMARK IT.
This Screener is by default for FNO Stocks You can change it from FNO To Cash so u can get all stocks forming hammer candlestick. Check the Below snap. Then Press Run Screener.
That's a wrap on Hammer Candlestick! Hope you found this breakdown helpful! Want to stay connected? Join my Telegram Channel for more insights: https://t.co/I31UxXxFGU 📲 Radhe Radhe 😍
You can Find Previous Learning Tweets here: DAY 1: Indian VIX https://t.co/sgyBVpxb9j DAY 2: PEG Ratio https://t.co/1vDqsSdJsR DAY 3: Engulfing Candlestick https://t.co/r94WWuqiax DAY 4: Shooting Star Candlestick https://t.co/Tk3sd22SPj Radhe Radhe 🌴