Rally To Candlestick Formation

[Pipsaholic]

Hi,

Can anyone experienced in candlestick formations tell me if this hammer is stronger as previous coloured candles are all bearish leading upto the hammer as a major structure point?

My point is if some of the candles leading upto the hammer are green does that make the hammer at a major structure point weaker? How about the size of candles leading upto the hammer?

Thanks.

 

[Shakone]

Hi,

Can anyone experienced in candlestick formations tell me if this hammer is stronger as previous coloured candles are all bearish leading upto the hammer as a major structure point?

My point is if some of the candles leading upto the hammer are green does that make the hammer at a major structure point weaker? How about the size of candles leading upto the hammer?

Thanks.

What do you think?

 

[wackypete2]

What do you think?

He doesn't.

Peter

 

[tomorton]

None of this is really significant, i.e. important enough to confirm or cancel the trade or identify position size etc.

If you trade off swing lows, especially if suggested by patterns such as hammers, it's worth trading but you would surely look for other confirmations rather than the candlestick colours.