Trading Hammers (revisited)

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Nihab

Also, here is a hammer / hanging man on a 4 week chart for apple. I know you dont follow stocks, however maybe you could comment on this candle because it appears in the middle of my chart, and i dont know what to call it.. There was a move upward..but then a sharp decline, so I'm a bit lost.
 
Quote from cashmoney69:

Nihab

http://www.elitetrader.com/vb/attachment.php?s=&postid=1042387

Also, here is a hammer / hanging man on a 4 week chart for apple. I know you dont follow stocks, however maybe you could comment on this candle because it appears in the middle of my chart, and i dont know what to call it.. There was a move upward..but then a sharp decline, so I'm a bit lost.
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Hi Cash,

I think that's a data error your looking at.

If its not...that's not a Hammer line pattern I trade nor is it one of the Hammer patterns I'm discussing in this thread.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term
 
Quote from romik:

Mark,

http://www.elitetrader.com/vb/attachment.php?s=&postid=1043650

Is that a Bullish White Hammer Pattern @ 10.30?

PT1 @ 1315.75
PT2 @ 1318.25
PT3 @ R1?

Romik
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Hi Romik,

Yes...along with the Index (SPX.X) and ETF (SPY) also having Bullish White Hammer patterns.

The most important thing is understanding the price action that produced those Bullish White Hammer patterns.

1030am est EIA Petroleum Status Report

Eminis were in a little trouble until that key market event.

By the way...take a close look at the 15min chart of CME EuroFX EC and you'll see a Bullish Dark Hammer pattern...the same one I've been discussing via this thread.

Mark
 
Quote from romik:

I am not sure I understand, I've mentioned PTs above :confused:
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I think Mark wants you to put your own PT's on the chart so he
can take a look at what you think the PT's should be...:)
 
NihabaAshi


i was wondering how long the shadow has to be when you are trading this pattern and I think you have to have 2-5 bars down before you get in????.....................what indicators do you use with this chart??

Thanks
 
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