Reversal Candles Patterns - Inverted Hammer Candlestick Pattern

Inverted Hammer Bullish Gold Candlesticks Patterns

Inverted Hammer Candles Pattern and Shooting Star Candlesticks Pattern xauusd candlesticks look alike. These have a long upper shadow and a short body at the bottom. Their color does not matter. What matters is the point where they appear whether at the top of a xauusd trend (star) or the bottom of a xauusd trend (hammer).

Difference is that inverted hammer candlesticks pattern is a bullish reversal candlesticks pattern while shooting star candles pattern is a bearish reversal candlesticks pattern.

Upward XAUUSD Trend Reversal - Shooting Star XAUUSD Candles Pattern

Downward XAUUSD Trend Reversal - Inverted Hammer XAUUSD Candlesticks pattern

Inverted Hammer Candles Pattern and Shooting Star Candles Pattern XAUUSD Candlesticks Chart Patterns

Inverted Hammer Candlesticks Pattern

Inverted Hammer Candlesticks Pattern is a bullish reversal candles pattern. It forms at the bottoms of a XAUUSD trend.

Inverted hammer candlesticks pattern occurs at the bottom of a xauusd downward trend & indicates the possibility of reversal of the downward XAUUSD trend.

Inverted Hammer Candlestick Pattern - How to Trade Inverted Hammer Candles Patterns - XAUUSD Analysis of Inverted Hammer Candles Pattern

XAUUSD Analysis of Inverted Hammer Candles Pattern

A buy is confirmed when a xauusd candlesticks closes above the neckline of the inverted hammer candlesticks pattern, this is the opening gold price of the xauusd candlesticks on the left side of this inverted hammer candlesticks pattern. The neckline point in this case forms the resistance area.

Stop loss orders for the buy gold trades should be set few pips below lowest gold price on the recent low of this inverted hammer candles pattern.

An inverted hammer is named so because it indicates that the xauusd market is hammering out a bottoms.