Tags Posts tagged with "Inverted Hammer"

Inverted Hammer

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While the hammer and inverted hammer are conventionally treated as bullish, nonetheless contrarian traders will sometimes use them as bearish flags.

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In major currency pairs, the shooting star is shown to be reliable at predicting the immediate period ahead, but it is less reliable in forecasting longer term changes in trend.

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A hammer is one of the more important reversal patterns. It is treated as a bullish reversal, but only when it appears under certain conditions.