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<p id="isPasted">Trading the Hammer Candlestick pattern involves the following steps:</p><ul><li>First, identify the Hammer: Look for a candlestick with the characteristics described above. This pattern is more significant if it appears after a downward trend.</li><li>Confirmation: Wait for the next period’s candlestick to confirm the reversal. This could be a gap-up or a long bullish candlestick.</li><li>Entry Point: Enter the trade at the opening of the next period after the confirmation candle.</li><li>Stop Loss: Set a stop loss below the lowest point of the Hammer candlestick to protect your capital.</li><li>Profit Target: Set your profit target based on your trading strategy. …</li></ul>
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