What's a Inverted Hammer Candle in XAU USD Trading?
What the Inverted Hammer Candle Shows in Candlestick Patterns.
The Inverted Hammer candlestick pattern signals a bullish price reversal. It typically appears at the bottom of a downtrend.
Inverted Hammer candle-sticks form at the bottom of a downtrend, showing a possible market price reversal of the downward trend.
What is an Inverted Hammer Candle in Gold Trading? - Inverted Hammer Candlestick Pattern - Candle Setup Explained
Candle Sticks Setup
A buy is confirmed when a candle closes above the neckline, which is when the candlestick opens on the left side of the pattern. The neckline here is the resistance zone.
For buy trades, set stop orders just below the recent low in XAUUSD prices.
The pattern known as an inverted hammer is designated this way because it suggests that sellers are actively trying to push the market to find a floor.
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