[pipsaholic]

Hi,

Can anyone experienced in candlestick formations tell me if this hammer is stronger as previous coloured candles are all bearish leading upto the hammer as a major structure point?

My point is if some of the candles leading upto the hammer are green does that make the hammer at a major structure point weaker? How about the size of candles leading upto the hammer?

Thanks.

[wrbtrader]

Originally Posted by pipsaholic »

Hi,

Can anyone experienced in candlestick formations tell me if this hammer is stronger as previous coloured candles are all bearish leading upto the hammer as a major structure point?

My point is if some of the candles leading upto the hammer are green does that make the hammer at a major structure point weaker? How about the size of candles leading upto the hammer?

Thanks.

It's not a hammer line nor a hammer pattern. In addition, Japanese Candlestick patterns were designed to work with market context. Thus, do not use them alone. Simply, your chart lacks an identity (what trading instrument is it?) to determine the market context for Japanese Candlestick analysis involving that chart.

Happy/Safe New Year

[pipsaholic]

yeah just imagine it was a major structure point as shown in the pic.