Showing Tag: "candle-stick-chart-patterns" (Show all posts)

: Hammer / Dragonfly Doji Bullish:

Posted by tushar chatterjee on Sunday, May 29, 2011, In : Technical analysis

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 (...