Expand your knowledge on candlesticks with this guide on how to read hammer candlestick patterns 👇
A hammer candlestick is formed when a candle shows a small body along with a long lower wick. The wick should have at least twice the size of the candle body. The long lower shadow indicates that sellers pushed the price down before buyers pushed it back up above the open price.
Below you can see the opening price , the closing price , and the highs and lows that form the wick or shadow .A bullish candlestick hammer is formed when the closing price is above the opening price, suggesting that buyers had control over the market before the end of that trading period.An inverted hammer is formed when the opening price is below the closing price.
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