Hammer & Hanging Man
Last updated
Last updated
Hammer & Hanging Man candlestick identification:
Small candle body
The upper shadow is very small or absent
Long lower shadow
Hammer candle meaning:
The Hammer candlestick shows that the bears initially dominated when they fell sharply from the open, but later the bulls regained the upper hand when pushing the price up, creating a shadow below the long candle.
If the Hammer candlestick appears in a downtrend, it is most likely a forecast for a bullish reversal.
Hanging Man meaning:
If the Hanging Man candlestick appears in a uptrend, it is most likely a forecast for a bearish reversal.
