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Why is a hammer candle a bullish reversal pattern?

It’s a bullish pattern because when this pattern appears at the bottom of a downtrend, the price starts to move in an uptrend. And that’s also why it’s a bullish reversal pattern, which indicates a reversal of the downtrend. We refer to this particular candle as a ‘ hammer candle ’ due to its place of formation.

What is a hammer reversal pattern?

Here is a pointwise summary of it: The hammer is a single bullish reversal candlestick pattern. We can most likely spot this candlestick at support levels. It’s a bullish reversal pattern, which indicates a reversal of the downtrend.

What is a hammer candle?

The Hammer Candle is another Japanese candlestick pattern among these 35 powerful candlestick patterns. It’s a bullish reversal candlestick pattern, which indicates the end of a downtrend and the start of a new uptrend. We can most likely spot this candlestick on support levels where prices decline and show rejection from lower levels.

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