Question - Forex Forexqna Chart

Hammers trading strategies and ideas?

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2 Answers
Gyo Suk • Lived in Florence
Answered 1 year ago
<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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Ilkay Demirel • Former Podiatrist at Frame Scene
Answered 1 week, 2 days ago
<p id="isPasted">A Hammer is a bullish reversal candlestick pattern that looks like a "T" with a long lower wick and a small body at the top. It signifies that sellers pushed the price down, but buyers stepped in aggressively to drive it back up before the close. Investopedia.</p><p><strong>1. The "Pivot-Hammer" Bounce</strong></p><p>This is the ultimate high-probability setup for beginners.</p><ul><li>The Setup: Wait for the price to drop toward a major support level, specifically an S1 or S2 Pivot Point.</li><li>The Trigger: A Hammer forms exactly on the pivot line.</li><li>Why it works: You have mathematical support (Pivot) combined with visual …</li></ul>
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