Hammer formation formed by a spinning tops from a short candle, followed with medium / long upper and lower shadow ( candlestick tail = shadow ). In Japanese Hammer called with takuri , takuri means testing and feel the bottom of the water. If we looked at description above, actually hammer has the same shape with hanging man. Hammer occurs after downtrend, Hanging man chart pattern occurs after uptrend. Hammer chart pattern and hanging man is the most popular candlestick chart pattern in technical analysis. This pattern predicts reversal potential in the market.
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