Reversal Gold Candlestick Patterns - Hammer XAUUSD Candlestick Pattern
Hammer Bullish XAUUSD Candlesticks Pattern
Reversal candlesticks patterns occur after an extended prior trend. Therefore, for a candlesticks pattern to qualify as a reversal candlesticks pattern there must be a prior trend.
These reversal candlesticks patterns are:
- Hammer Gold Candlesticks Pattern and Hanging Man Gold Candlestick Pattern
- Inverted Hammer Gold Candlesticks Pattern and Shooting Star Gold Candlestick Pattern
- Piercing Line XAUUSD Candlestick Pattern and Dark Cloud Cover Gold Candlestick Pattern
- Morning Star Candlesticks and Evening Star Candlesticks
- Engulfing XAUUSD Candlesticks Patterns
Hammer Gold Candlesticks Pattern and Hanging Man XAUUSD Candlestick Pattern
Hammer Gold Candlesticks Pattern and Hanging Man XAUUSD Candlestick Pattern candlesticks look alike but hammer candlesticks pattern is bullish reversal candlesticks pattern and hanging man is a bearish reversal candlestick pattern.
Hammer Gold Candlesticks Pattern and Hanging Man XAUUSD Candlestick Pattern
Hammer XAUUSD Candlesticks Patterns
Hammer XAUUSD Candlesticks Pattern is a potentially bullish candlestick pattern that occurs during a xauusd downward trend. It is named so because the xauusd market is hammering out a market bottom.
A hammer candlestick pattern has:
- A small body
- The body is at the top
- The lower shadow is two or three times the 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 XAUUSD Candlesticks Pattern
The buy xauusd signal is confirmed when a candlestick closes above the opening gold price of the candlestick on the left side of the hammer candlesticks pattern.
Stop loss orders should be place a few pips just below the low of the xauusd hammer candlestick pattern.