Post by
jetfuel10X on Feb 24, 2023 6:01pm
VLE form a Green Hammer confirm a possible reverse trend
The hammer pattern is a single-candle bullish reversal pattern that can be spotted at the end of a downtrend. The opening price, close, and top are approximately at the same price, while there is a long wick that extends lower, twice as big as the short body.
Irrespective of the colour of the body, both examples in the photo above are hammers. Still, the left candle is considered to be stronger since the close occurs at the top of the candle, signaling strong momentum.
https://www.thinkmarkets.com/en/learn-to-trade/indicators-and-patterns/general-patterns/hammer-candlestick-pattern/
Comment by
jetfuel10X on Feb 24, 2023 6:12pm
We have a hammer both in a daily chart and weekly chart very bullish https://stockcharts.com/h-sc/ui