What's a Inverted Hammer Candle in XAUUSD Trading?
What Does Inverted Hammer Candle Mean? Inverted Hammer Candlestick Definition
Inverted Hammer candle-sticks set-up is a bullish reversal candle pattern. It forms at the bottom of a trend.
Inverted Hammer candle-sticks setup forms at the bottom of a down trend & indicates possibility of a market 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 candlestick closes above neckline, this is opening of candlestick on leftside of this pattern. The neck-line point in this case 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 candlesticks setup is named so because it signifies that the market is hammering a bottom.
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