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Bullish Hammer



This pattern signals a potential trend

Reversal


How to identify
  1. Small real body at the upper trading range.

  2. Color of the body is not important.

  3. Long lower shadow at least twice the length of the body.

  4. Little or no upper shadow.

  5. Previous trend should be bearish.
Similar pattern(s)

» Bearish Hanging Man

Psychology

As with any single candlestick, confirmation is required. The Bullish Hammer pattern shows the price goes much lower than the open then closes near the opening price. This fact reduces the confidence of the bears. Ideally, a white real body Hammer with a higher open the following day could be a bullish signal for the days ahead.



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