Hammer - Candlestick Pattern

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Hammer - Candlestick Pattern

  • April 01, 2015

This hammer marks a reversal off a bottom or off an important support level.  On the day of the hammer, prices decline.  They hit bottom and then rebound sharply making up all the ground – and sometimes more – compared to where the sell-off started.  The candle shows that the buyers have seized control. A bullish candlestick on the following day confirms this analysis.

 

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