👉 Hammer Type candlestick pattern & Analysis
In a Hammer candle, the body of the candle is small and the lower shadow is quite long, while there is no upper shadow at all; this is what we call a hammer candle. This type of candle can be either red or green. If a hammer candle forms in a downtrend on the chart, there is a 90% chance that the market will go into an uptrend, during which the price of the share increases. Conversely, if a hammer candle forms in an uptrend on the chart, there is a 90% chance that the market will go into a downtrend. This hammer works in both day and short-term scenarios, 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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