What's a Inverted Hammer Candlestick in XAUUSD Trading?
What Does Inverted Hammer Candlestick Mean? Inverted Hammer Candle Definition
Inverted Hammer xauusd candle sticks pattern is a bullish reversal candlestick pattern. It forms at the bottom of a Gold trend.
Inverted Hammer xauusd candlesticks pattern forms at the bottom of a down gold trend & indicates the possibility of reversal of the downwards xauusd trend.
What is Inverted Hammer Candlestick in Gold Trading? - Inverted Hammer Candlesticks Pattern - Gold Candlesticks Pattern
Gold Candles Pattern
A buy is confirmed when a candle closes above neckline, this is opening of candle on leftside of this pattern. The neck-line point in this case forms the resistance level.
Stop orders for the buy xauusd trades should be placed a few pips below the lowest xauusd trading price on the recent low.
An inverted hammer candles pattern is named so because it signifies that the xauusd market is hammering out a bottoms.
