Japanese candlestick pattern has been around for centuries and many traders use it to trade in Stocks, Forex as well as commodities.
Candlestick uses the opening price, closing price, high price and low price to form a chart pattern. Black candle is formed when the opening price is higher than the closing price and White candle is formed when the opening price is less than the closing price.
Apart from the simple black and white candle, there are other patterns that tell a trader what is happening in the market.
In this blog, I will focus on the Hammer pattern and how it can be used for trading. I will also provide a list of stocks traded in the Malaysia Stock Exchange that made the Hammer pattern.
Definition Of Hammer Candlestick Pattern
This blog lists stocks traded in Malaysia Stock Market that made a Hammer Candlestick Pattern. For definition of Hammer pattern, please click here
Thursday, May 22, 2008
Introduction To Hammer Scanner
Posted by Candlestick Trader at 4:49 PM
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1 comments:
First time visitor.
What does black inverted hammer mean? Does it mean to dump the stock or to cut loss or to average down the price?
So not necessary to ask white inverted hammer which obviously means the opposite.
Thanks and cheers!
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