BitcoinEducation
3 of 3 Candlestick Patterns That Pinpoint Reversals
Bullish Hammer Candlestick
These candles are easy to spot and they generally have taller wicks than their bodies, resembling a hammer's handle and head.
They tend to close without (or with very little) upper wicks.
Here's what a bullish hammer candlestick is telling us:
Price opened near the highs of the candle and although sellers initially succeeded at pushing price lower, they lost the final battle when buyers tipped the scales in their favor again by closing price higher than the opening price.
These candles are easy to spot and they generally have taller wicks than their bodies, resembling a hammer's handle and head.
They tend to close without (or with very little) upper wicks.
Here's what a bullish hammer candlestick is telling us:
Price opened near the highs of the candle and although sellers initially succeeded at pushing price lower, they lost the final battle when buyers tipped the scales in their favor again by closing price higher than the opening price.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.