The is a reversal pattern. It occurs at the bottom of a Bitcoin downward trend.
occurs at the bottom of a downtrend and indicates the possibility of reversal of the downward Bitcoin price trend.
A buy signal generated using the pattern is confirmed when another is formed and this new closes above the neckline, this is the opening of the on the left side of this as shown above. The neckline in this case is a .
If the formed next to the does not close above the neck line, then as a trader you wait to see if the subsequent closes above the neck line. Only when a that closes above the neckline is formed is when this reversal pattern is confirmed.
Stop loss orders for the buy trade that has been opened should be placed a few pips below the lowest price on the recent low.
An is named so because it signifies that the market price is hammering out a bottom.
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after close and forming shape and candlesticks can`t change after close
but your question should be this pattern valid?
Surely Yeah Pattern Have rules like any pattern called breakout/breakdown etc
for inverted hammer, the pattern still work and we make this post to learn how to trade it
Also u can read what we add below chart this part Technical Analysis of Inverted Hammer Candlestick or check link
this Inverted Hammer was formed due to Tether dump.
Can u tell me why this candle at 25 jun 2018 crated sure you and I we don`t know why!! we trade chart and pattern not trade the reason behind it