What's a Inverted Hammer Candle in XAU USD Trading?
What Does Inverted Hammer Candle Mean? Inverted Hammer Candlestick Definition
Inverted Hammer candle-sticks set-up is a bullish price reversal candle pattern. It forms at the bottom of a trend.
Inverted Hammer candle-sticks setup forms at the bottom of a down trend & reflects possibility of a market price reversal of the downward trend.
What is Inverted Hammer Candle in Gold Trading? - Inverted Hammer Candlesticks Pattern - Candles Setup
Candle Sticks Setup
A buy is confirmed when a candle closes above neckline, this is opening of candlestick on left side of the pattern. The neckline point in this instance forms the resistance zone.
Stop orders for the buy trade transactions should be set a couple of pips below the lowest xauusd price on the recent low.
An inverted hammer candles setup is named and called so because it signifies the market is hammering out a bottom.
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