Hi guys,
I am getting conflicting views on an inverted hammer/shooting star. Specifically CDX chart.
"It is similar in shape to the Bearish Shooting Star but unlike the Shooting Star, the Inverted Hammer appears in a downtrend and signals a bullish reversal. 1. The market is characterized by a prevailing downtrend. ... The body of the Inverted Hammer should be small."
I read it slightly different way. I see the buyers pushing it up but sellers were strong enough to close out almost at open price. On this occasion I was right.
Any views here?
Hi guys,I am getting conflicting views on an inverted...
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