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Candlestick formation "Hammer" is a figure on the chart of Japanese candlesticks, consisting of a single candle. The features of the "Hammer" are that this candle has a long lower shadow and a short body, that is, graphically resembles a hammer, so it is very easy to spot on the chart.
The Hammer is formed on downtrends (on an uptrend, a candlestick with the same characteristics will have the name "Hanged Man"). The Hammer marks local lows and heralds further growth. Therefore, the "Hammer" candlestick is a bullish pattern. It is also important to wait for a confirming candle.
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#GateSquareAprilPostingChallenge
#MarchNonfarmPayrollsIncoming
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