TOP 10 Reversal Candlestick Patterns Every Forex Trader Needs To Know In 2019

#7: Bullish Hammer Candlestick Pattern

The bullish hammer candlestick pattern can also be called a bullish pin bar. It is the exact opposite of a shooting start candlestick pattern (or bearish pin bar).

The bullish hammer candlestick pattern is a single candlestick formation and it is very easy to spot as this candlestick tends to be very long and looks like a pin bar or hammer.

Here’s how a bullish hammer candlestick looks like:

bullish hammer candlestick formation

Where Bullish Hammer Patterns Form On A Chart

Look for Bullish hammer reversal candlestick patterns when price is near or touching these levels:

  • major support levels
  • upward trendline bounces
  • fib retracement levels

 

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