Wednesday, December 10, 2008

the Inverted Hammer


As Forexgen Presents the Inverted Hammer is a pattern that occurs at the bottom of a downtrend. It indicates a possibility of the reversal of the downtrend.

Recognition Criteria:

  • A small real body is near the lower part of the price range.
  • The very long upper shadow.
  • Occurs in a downtrend.

Also The Shooting Star is a bearish reversal pattern. It occurs in an upper trend which indicates that the market opens at the lows of the season, rallies and pulls back to the bottom.

Recognition Criteria:

  • A very long upper shadow.
  • The small real body at the lower end of the price range.
  • The real body gaps away from the prior real body.

1 comment:

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