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$Seatrium Ltd (5E2.SG)$ For a candlestick to be classified a...
$Seatrium Ltd (5E2.SG)$ For a candlestick to be classified as a hammer, it must have:
- A small real body near the top of the candlestick range.
-Little to no upper shadow.
- A long lower shadow that is at least twice the size of the body.
A candlestick without a body (where the open and close prices are the same) is called a doji, not a hammer.
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偷米的老鼠 : I don't understand! Can you describe it in simpler sentences?
_MK_Watcher_ 偷米的老鼠 : A hammer candle is formed with a hammer head (body) and a long handle (lower wick/shadow). The green hammer is usually formed when the price hit a high when open and go even higher by one or two bids when close the session (this forms a hammer head). Between the opening and closing times, it also goes to a low of at least 200% of the body and get been pushed up. (this forms a lower wick). This is a quick indication that there is a group of traders trying to push up the price to/near to the opening price when closes, even it hit a low briefly during the session.
Scrooge_McDuck OP _MK_Watcher_ : Glad to know that you have captured the key point. The “tiny red hammer has formed” mentioned in your previous comment is actually NOT considered a hammer candlestick, when the tail is equal to the height of the real body.
VictorT : you expect a drop soon?
Scrooge_McDuck OP VictorT : The volume is too low, the price could just be moving in a range (sideways). Probably will not act unless the next candle provides confirmation of a reversal.