The Hammer candlestick formation is a significant bullish candlestick that is reversal that primarily occurs during the bottom of downtrends.The Hammer formation is established if the available, high, and near are roughly the purchase price that is exact same. Additionally, there is a long lower shadow, twice the space as your body that is genuine.
Whenever high and the close are the exact same, a Hammer that is bullish candlestick formed and it's also considered a stronger development because the bulls managed to reject the bears completely and the bulls managed to push price much more through the opening price.
In contrast, when the high and available will be the exact same, this Hammer formation is considered less bullish, but still bullish. The bulls had the ability to counteract the bears, but were unable to bring the price back once again to the cost at the open.
The long lower shadow of the Hammer suggests that the market tested to get where demand and support was situated. Whenever the marketplace discovered the part of help, the lows of this, bulls started to push costs greater, near the opening cost day. Thus, the advance that is bearish was refused by the bulls.
Example:
The chart below of United states Global Group (AIG) stock illustrates a Hammer reversal pattern after a downtrend:
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