Rick, your hammer descriptions stand out as incorrect.
The hammer is usually a bullish reversal at bottom of a downtrend, ie: rejection intraday, very long tail even better
The hanging man looks the same but is bearish IF in an uptrend.
Both are not the best to follow as strike rates 59-60% and not near best, but they are easy to spot and therefore become popular, much like the misused cup & handle pattern, amateurs love calling them (even in downtrends.)
- Forums
- ASX - Short Term Trading
- XAO
- Short Term Trading Week Starting: 04 Feb
Short Term Trading Week Starting: 04 Feb, page-64
-
- There are more pages in this discussion • 88 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add XAO (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,633.1 |
Change
66.100(0.77%) |
Mkt cap ! n/a |
Open | High | Low |
8,567.0 | 8,657.9 | 8,567.0 |
XAO (ASX) Chart |