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I've got one question on Hammers which may seem very simple but has confused me none the less.
Lets say that you've established that there's a down trend and suddenly there is a hammer....does it matter if the hammer closes lower than the open (red candle) or for it to really be bullish does it have to be close above its open (green)?
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For me Nick, I don't care what color the hammer is. I see a bullish price candle, regardless of color. That could be a screen for hammers though and maybe others have found otherwise.