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Strategies & Market Trends : MOVING NOW!

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Jun 26 5:00 PM EST

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To: Rich1 who wrote (4851)	10/26/2000 11:13:05 PM
From: Susan G	Read Replies (3) of 8046

Candlesticks rule <g> A bullish hammer reversal: Hammer / Dragonfly Doji Bullish Pattern: Reversal Trend: Bullish Reliability: Low/Moderate How to Identify it Small real body at the upper end of the trading range Lower shadow at least twice as long as the real body No (or almost no) upper shadow What it Means There is a sharp sell off after the market opens during a downtrend. However, by the end of the trading day, the market closes at or near its high for the day. This signifies a weakening of the previous bearish sentiment, especially if the real body is white (the close is higher than the open price). Since the certainty for a Hammer indicator is low, the trend reversal can be confirmed by a higher open and an even higher close on the next trading day. If the open and the close are identical, the indicator is considered a Dragonfly Doji. The Dragonfly Doji has a higher reliability associated with it than a Hammer. check out this site litwick.com

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