Market Maker Bull Hammer Weekly Template
Updated
The following template for a bull hammer weekly candle is as follows.
Monday goes sideways. Mark off the high and low of Monday
Tuesday is a complete down day
Wednesday and Thursday form the mid week reversal
Thursday and Friday close out the week at the highs
Another thing I have noticed is that this type of weekly candle happened only 16 times since 2020 and 9/10 they occurred around a news event like FOMC,NFP, and CPI and/or a holiday. 4th of July happened 2 times in a row, New Years, and Easter.
I will need to back test more on the bearish side of the coin to test more data
Monday goes sideways. Mark off the high and low of Monday
Tuesday is a complete down day
Wednesday and Thursday form the mid week reversal
Thursday and Friday close out the week at the highs
Another thing I have noticed is that this type of weekly candle happened only 16 times since 2020 and 9/10 they occurred around a news event like FOMC,NFP, and CPI and/or a holiday. 4th of July happened 2 times in a row, New Years, and Easter.
I will need to back test more on the bearish side of the coin to test more data
Note
On the weekly chart, these are the bull pin hammer candles that I have gave examples for. Note
It appears that even on Bear pin hammer bars, that they occur most frequently on Major News and Holidays. Here are some examples of the last weekly bear pin hammersNote
New Year's Week 2022
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.