Hammer Candlestick | Chart Analysis
Hammer Candlestick PATTERN Chart Analysis The hammer pattern is a commonly recognized candlestick pattern in chart analysis. This pattern consists of a single candlestick with a small body located at the upper end of the trading range, and a long lower shadow that extends downwards to the lower end of the range. The hammer pattern is considered to be a bullish reversal pattern, indicating a potential shift in market sentiment from bearish to bullish. The significance of the hammer pattern in candlestick chart analysis lies in its ability to provide valuable insights into market dynamics and potential future price movements.Candlestick pattern recognition is an essential tool for determining market conditions, and the hammer pattern is one such pattern that traders use to make trading decisions (Chen, J. and Tsai, Y., 2020). Traders often consider various factors such as technical indicators, news, and candlestick patterns to make well-informed trading decisions (Chen, J. and Tsai...