I would not confuse these candles showing up as Hammers. A Hammer is technically a bullish Hammer only after after it shows up after at least a short-term downtrend. It is a reversal candle after all.
More often than not in my experience these candles prove to be ill-fated little ‘buy the mini dip’ exercises if they show up just after a market starts to break. There’s the key resistance shown on the chart of QQQ. If it gets through there I guess it will have been an okay candle, but not a reversal candle.NFTRH Premium for your 25-35 page weekly report, interim updates (including Key ETF charts) and NFTRH+ chart/trade ideas or the free eLetter for an introduction to our work. Support free quality content; please disable AdBlock on Biiwii.com... and thank you! Add to SocialTrade