A hammer is a kind of bullish reversal candlestick pattern,...

A hammer is a kind of bullish reversal candlestick pattern, consists of only one candle, and appears after a downtrend. The candle is similar to a hammer, simply because it has a long lower wick and a short body at the top of the candlestick with almost no upper wick.


Hammer pattern
The Hammer pattern is created when the open, high, and close are such that the real body is small. Also, you can find a long lower shadow, 2 times the length as the real body. It should look just like a capital ‘T’. This signifies the possibility of a hammer candle. The real body can be black (red in picture above) or white (green in picture above).

To me all signals are a buy. This week the assay results will be released and I am hoping that they will give the SP a boost along and hope it stays up. But as we all know, previous announcements have been met with a higher SP then sold down to finish the same as previous day or only a few pips up.
We have been in a consolidation phase since April and have bounced between 7¢ and 13¢. Considering the ASX finished 1.8 points higher and KRC finished up 4.5% on lower Vol I think it did well.


As usual all constructive criticism welcomed, as these are my thoughts and interpretation that I post, and they do not replace professional advice and no one can truly predict, in any way, future trade quotes and performance. Good luck to all that hold.