Reversal Candlestick Chart Patterns - Inverted Hammer Bullish Gold Candle Patterns
Hammer Bullish XAUUSD Candlestick Patterns
Reversal candle patterns occur after an extended prior trend. Therefore, for a candlestick pattern to qualify as a reversal candlestick pattern there must be a prior trend.
These reversal candlestick patterns are:
- Hammer Candlesticks Pattern & Hanging Man Candle Pattern
- Inverted Hammer Candles Pattern and Shooting Star Candle Pattern
- Piercing Line XAUUSD Candlestick Pattern & Dark Cloud Cover Candle Pattern
- Morning Star Candles and Evening Star Candles
- Engulfing Candles Patterns
Hammer Candles Pattern and Hanging Man Candle Pattern
Hammer Candlesticks Pattern & Hanging Man Candle Pattern candlesticks look alike but hammer is bullish reversal candlestick pattern & hanging man is a bearish reversal candlestick pattern.
Hammer Candles Pattern and Hanging Man Candle Pattern
Hammer Candles Patterns
Hammer is a potentially bullish pattern which occurs during a xauusd downwards trend. It is named so because the xauusd market is hammering out a market bottoms.
A hammer has:
- A small body
- The body is at the top
- The lower shadow is two or three times length of the real body.
- Has no upper shadow or very small upper shadow if present.
- The color of the body is not important
Hammer Candlesticks
Technical Analysis of Hammer Candlesticks Patterns
The buy trading signal is confirmed when a candle closes above the opening gold price of the candlestick to the left side of this hammer candle pattern.
Stop orders should be set few pips just below the low of hammer candle.
Inverted Hammer Bullish XAUUSD Candlestick Patterns
Inverted Hammer Candles Pattern & Shooting Star Candle Pattern 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 market xauusd trend (star) or the bottom of a market xauusd trend (hammer).
Difference is that inverted hammer is a bullish reversal candle pattern while shooting star is a bearish reversal candlestick pattern.
Upward XAUUSD Trend Reversal - Shooting Star Candles
Downward XAUUSD Trend Reversal - Inverted Hammer Candles
Inverted Hammer Candles Pattern and Shooting Star Candle Pattern Gold Chart Patterns
Inverted Hammer XAUUSD Trading Candlestick
This is a bullish reversal candle pattern. It forms at the bottoms of a XAUUSD trend.
Inverted hammer occurs at the bottoms of a down xauusd trend & indicates the possibility of reversal of the downward XAUUSD trend.
Inverted Hammer XAUUSD Trading Candlestick
Technical Analysis of Inverted Hammer XAUUSD Trading Candlestick
A buy is completed when a candlestick closes above neck-line, this is opening of the candlestick on the left side of this pattern. The neckline point in this case forms the resistance area.
Stop orders for the buy gold trades should be set few pips below lowest gold price on the recent low.
An inverted hammer is named so because it indicates that the xauusd market is hammering out a bottoms.
