I appreciate your detailed reply. I will definitely enjoy following this thread. Thanks.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Trading Hammers (revisited)
- Thread starter NihabaAshi
- Start date
- Status
- Not open for further replies.
August 2nd Tuesday,
CME Emini - ER2
Bearish Dark Inverted Hammer
Sometimes this candlestick pattern can be misinterpreted as a Dark Shooting Star.
In addition, there's more diversity within the Dark Inverted Hammer and probably is the reason why it can be misinterpreted as a Dark Shooting Star.
NihabaAshi
CME Emini - ER2
Bearish Dark Inverted Hammer
Sometimes this candlestick pattern can be misinterpreted as a Dark Shooting Star.
In addition, there's more diversity within the Dark Inverted Hammer and probably is the reason why it can be misinterpreted as a Dark Shooting Star.
NihabaAshi
Attachments
Thanks for posting that last chart...caught that one in real time today, but it's good to have you confirm I got it right.
What about this one, which showed also showed up today on the ER2? Nice volume, sitting atop support, etc.
Even though the body was equal to the upper shadow, as opposed to larger, would you have considered that acceptable in real time in light of the rest of the setup?
Even though the body was equal to the upper shadow, as opposed to larger, would you have considered that acceptable in real time in light of the rest of the setup?
Attachments
Quote from jasonbraswell:
What about this one, which showed also showed up today on the ER2? Nice volume, sitting atop support, etc.
Even though the body was equal to the upper shadow, as opposed to larger, would you have considered that acceptable in real time in light of the rest of the setup?
Hi Jason,
I know some that trade that particular type of price action.
However, I don't think they trade it because of the Hammer-like action...
I think they trade it because of the price action involving the long lower shadow.
As for myself...it doesn't pass my specific rules as a Hammer pattern.
NihabaAshi
Quote from jgadefelth:
Not an nice arrow but the best i can do, hopes it helps. I mena the one 09.30
Regards
No...that is not a valid trade signal.
The lower shadow must be greater than the candlestick body.
In your 10min chart of ES on July 6th Wednesday...
The body and lower shadow are equal or 0.75 each.
Once again...this is my personal criteria and such may be different from what you see used by other traders or seen in some candlestick books.
NihabaAshi
- Status
- Not open for further replies.