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Do you know how to recognize a bullish hammer on a stock chart?
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ticker lesson
Breakdown
0:00lesson
Bar vs candle charts — color importance
- Bar charts show open and close positions
- Colors on bar charts don't matter
- Candle charts use color to show price direction
- Color blind traders should use bar charts
- Candle charts are thicker and more visible
1:48lesson
Price action — bullish hammer pattern
- Bullish hammer is a reversal candle
- Long wick down at the bottom
- Open and close near the top
- Price action came down then reversed up
- Likely to reverse up after this pattern
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