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Hammer Candlestick Pattern Definition

If there was a large drop in price in the middle of the day, but before the day ended it increased to what it was at the beginning of the day and even more, a significant upward return occurred. The candlestick of this change (move) will be a "Hammer" in a daily time frame. A Hammer formation on the daily time frame is a very strong indication for a high probability of increasing price in the next few days.

Main rules of trading in financial markets

  1. First, identify the macro trends of the market and the probable reverse areas with the assistance of monthly and weekly time frames or more accurate daily frames. For this purpose, our Weekly Forecasts can be helpful.
  2. Second, in the daily time frame, select the charts which show you one of the main forecasting models of tomorrow’s market direction. To increase speed and accuracy, Daily Trading Opportunities Service identifies these kinds of charts. Please carefully choose the ones which are in the direction of the macro trends of market or in the probable reverse areas (as mentioned in the first rule).
  3. Finally, in the 1 hour and 30 minute time frames, find enter and exit places considering the support and resistance lines. Our Intraday Forecasts Service, which report some of the popular charts, can help you increase your accuracy.
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What are Intraday Forecasts? 

The Intraday forecasts help you trade in the next 24 hours.
The intraday forecasts of ForecastCity will show you the most accurate and the most likely movements and swings of the market. 
We cover intraday forecasts for all forex charts, commodities, and cryptocurrencies and for all intraday time frames from 4 hours to 5 minutes.

Trend Hunter Strategy

The most straightforward, strongest, and most reliable financial market strategy that generates Maximum Profit with Minimum Risk.

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