Mycomment regarding LRS’s hammer today:
Characteristics of a Bullish Hammer (Low Reliability) pattern :
1. Market is on a prevailing downtrend;
2. We then see a small body at the upper end of the trading range of the latest trading day ;
3. It is preferred that the lower shadow isat least twice as long as the body; and
4. There is no upper shadow (or almost no upper shadow).Brief Explanation:
The BHaP (Bullish Hammer Pattern) is a significant stick that is seen at the bottom of a trend (or during a downtrend). It is called a hammer since it is hammering out a bottom.This pattern is similar to the Bullish Dragonfly Doji Pattern (BDDP). But in the BDDP case, the opening and closing prices are the same while the BHaP has a small body at the upper end of the trading range.
Note:
1. If the hammer is distinguished by a close above the open, the situation is even better for the bulls
2. The BDDP is more bullish that the BHaP.Guata.
- Forums
- ASX - Day Trading
- Afternoon trading June 7
Mycomment regarding LRS’s hammer today: Characteristics of a...
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online