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Strategies & Market Trends : Technical Analysis - Beginners
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To: Trader X who wrote (11394)2/6/2001 6:26:58 PM
From: TechTrader42  Read Replies (4) of 12039
 
"If something you consider to be a hammer does not wash out that way the next day, then your assumption is incorrect."

A hammer is a bar with a small body at the top of the day's range and a long lower shadow, with little or no upper shadow. Hammers can indicate reversals in the downtrend; then again, they may not. Sometimes hammers signal the end of a decline. Sometimes they don't. Nison gives examples of hammers that aren't successful in signaling changes in trend. For example, look at Hammer 4 on Page 32 in "Japanese Candlestick Charting Techniques."

And on another note, maybe CSCO will help nudge QQQ into the abyss tomorrow. Then again......
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