HamadaMark
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BITTREX:BTCUSDT   Bitcoin / Tether
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Inverted Hammer Japanese Candlestick
The Inverted Hammer candlestick is a bullish reversal candlestick pattern. It occurs at the bottom of a Bitcoin downward trend.
Inverted hammer candlestick occurs at the bottom of a downtrend and indicates the possibility of reversal of the downward Bitcoin price trend.


Technical Analysis of Inverted Hammer Candlestick
A buy signal generated using the inverted hammer candlestick pattern is confirmed when another candlestick is formed and this new candlestick closes above the neckline, this is the opening of the candlestick on the left side of this hammer candlestick as shown above. The neckline in this case is a resistance level .


If the candlestick formed next to the hammer candlestick does not close above the neck line, then as a trader you wait to see if the subsequent candlestick closes above the neck line. Only when a candlestick that closes above the neckline is formed is when this bullish 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 inverted hammer candlestick is named so because it signifies that the market price is hammering out a bottom.


Read More
http://tradebitcointrading.com/index.php...



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Reply
Do you consider this candlestick valid? Despite of this Inverted Hammer was formed due to Tether dump.
Reply
HamadaMark CryptoMoe81
Salaam Dear @CryptoMoe81,

candlestick valid
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
Reply
CryptoMoe81 HamadaMark
@HamadaMark, you are right, thx for your explanation
+1 Reply
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