👉 Hammer Type candlestick pattern & Analysis
A hammer candle has a small body and a long lower shadow, with no upper shadow, and is called a hammer candle. This type of candle can be either red or green. If a hammer candle appears during a downtrend on the chart, there is a 90% chance that the market will go into an uptrend, where the price of the shares increases. Conversely, if a hammer candle appears during an uptrend, there is a 90% chance that the market will go into a downtrend. This hammer works in both day's and short term timeframes, such as 1 minute, 3 minutes, 5 minutes, 15 minutes, 30 minutes, 1 hour, 2 hours, 4 hours, 6 hours, 8 hours, 12 hours, 1 day's, 3 day's, week's & month's; it works in all these charts.
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