Litecoin (LTCZ18) Bullish Hammer (Learning)

Bullish Hammer
A hammer is a type of bullish reversal candlestick pattern, made up of just one candle, found in price charts of financial assets. The candle looks like a hammer, as it has a long lower wick and a short body at the top of the candlestick with little or no upper wick.

Please not that the candle needs to close for the signal to be valid.

You can trade a bullish hammer when they come up at the bottom of a trend and with good volume, as they can mean a trend reversal. You would use a stop loss which is the lowest point peak by the hammer candlestick wick.

I am trading LONG LTCZ18.

A drop and close below 0.00751 would invalidate this signal.

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Namaste.

Trade chiuso manualmente:

This is an educacional post. The signal worked as expected.