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Candlestickpattern

Single Candlestick Chart Pattern - Bullish Hammer Hammers have a small real body and a long lower shadow. Hammers occur after a price decline. The hammer candlestick shows sellers came into the market during the period but by the close the selling had been absorbed and buyers had pushed the price back to near the open. The close can be above or below the open, although the close should be near the open in order for the real body to remain small. The lower shadow should be at least two times the height of the real body. Hammer candlesticks indicate a potential price reversal to the upside. The price must start moving up following the hammer; this is called confirmation. Confirmation - Hammers are most effective when they are preceded by at least three or more declining candles. A declining candle is one which closes lower than the close of the candle before it. A hammer should look similar to a "T". This indicates the potential for a hammer candle. A hammer candlestick does not indicate a price reversal to the upside until it is confirmed. Confirmation occurs if the candle following the hammer closes above the closing price of the hammer. Ideally, this confirmation candle shows strong buying. Candlestick traders will typically look to enter long positions or exit short positions during or after the confirmation candle. For those taking new long positions, a stop loss can be placed below the low of the hammer's shadow. Hammers aren't usually used in isolation, even with confirmation. Traders typically use price or trend analysis, or technical indicators to further confirm candlestick patterns.
BITSTAMP:ETHUSDEducation
by TraderLeVeR
36
GOLD, Buy or Sell ?As of 21st May 2021 Current Trend: Upward Start of Upward trend: 31/3/21 RSI: Around 72 MACD Crossover: Shortline over Longline (Blue over red) MAE: Stock trading above 26 Day moving average Current Resistance level: 1861-1863 Bollinger Band: Currently trading near (1.618) level of BB, which also serves as a current resistance level. The price has broken the current resistance level and (1.68) Bollinger Band level but it has not broken it with volume also it constantly is making Doji and Spinning top candles which are neutral and indecisive candles. These candles also indicate a possible trend reversal. Moreover, the strength of newly formed candles is constantly decreasing. Analysis: The prices of Gold can decrease in the coming future up to the levels of 1835-1837. Go short once the level of 1861-1859 is broken with volume. (One principle which I also kept in mind during analysis is the hype in the market related to the rising prices of gold.) Feel free to comments below...
G
by nipun_garg7383
AMBUJA CEMENTS, Uptrend over ?Ambuja Cements as on 19/5/21 Overall Trend: Upward Currently trading in an upward channel range. Current situation: Behaving like in sideways trend RSI: 59 MACD: Not indicating clear signal Current Horizontal Resistance level: Around 318 price levels Note: According to a single candlestick pattern, A hanging man is formed in an upward trend with a high volume and current stock prices also seem to be at a horizontal resistance level. Analysis:- 1. Since hanging man is formed, so it might be a trend reversal signal, so wait till the lower trend line is broken with heavy volume before entering in a short position. 2. Since a heavy investment is done today in Ambuja cement, it may be a possibility that stock resumes its upward journey so wait for the price to close above the horizontal resistance with volume before going long.
NSE:AMBUJACEM
by nipun_garg7383
A clear breakout in Lincoln PharmaWith the surge in volume, this stock is clearly a hot pick for positional trade. The only concern is that it has back to back green candle with a higher high and higher lows which mean that there is a chance of retracement in the stock. So either you can pick the stock while it retraces or can be taken in few quantities and do averaging while it retraces. As it is near its all-time high you can put your own target with Trailing Stoploss. This stock can also be picked for long term investment as it is a fundamentally strong Pharma company.
NSE:LINCOLNLong
by Saket_Ojha