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.
Last modified 1yr ago