below depicted is one heck of a bullish (weekly) hammer reversal...hammers that ensue capitulation days or week are most reliable...
not so, a lot of other factors have to be taken into account as well
the longer the wick the more bullish the hammer...
again, imo not 100% correct.. a lot of the time a hammer with a small wick is more successful
a lot of the time (occurs not in the correct place) a long wicked hammer will fail... at best it will just be moved into a sideways range before failing lower ...
a high volume hammer really needs to be tested, and that does not occur overnight...
a low volume hammer will respond quicker as the testing has in effect already occurred.
technical update, page-29
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