A hammer is a type of bullish reversal candlestick pattern, made up of just one candle, found in price charts of financial assets. The candle looks like a hammer, as it has a long lower wick and a short body at the top of the candlestick with little or no upper wick.
✍Hammer candle is formed during the end of a downtrend. The major psychology of this candle is the bears try to pull price down but fails to do it.
✍While taking long trade we must confirm that price of next candle should successfully closes above the high of hammer candle and stop loss has to be take at the low of candle.
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