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Hammer & Hanging Man
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.
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