Chapter 3 - Reversal Candle Patterns Flashcards
Hammer in Japanese?
Ton-kachi
Both Hammer and Hanging Man are each make of how many candlestick line/s ?
One Candlestick Line.
Describe the Hammer and Hanging Man ?
They have Long lower shadow and small real bodies that are very near the TOP of their daily trading range.
Hammer occurs in what trend?
Downtrend
Hanging Man occurs in what trend ?
At the TOP of a trend or during a uptrend.
Kubitsuri means
Looks like a Man hanging.
Describe Takuri Line ?
Has lower shadow at least 3-times the length of the body, whereas the lower shadow of a Hammer is a minimum of only twice the length of body.
Previous price movement helps determine ?
- Previous price movement helps to determine Only the pattern.
- Does not have the ability to Foresee or Anticipate Future price movement.
Difference between Takuri Line and Hammer Line ?
Takuri Line has a lower shadow at least three times of the body, whereas the lower shadow a Hammer is a minimum of only twice the length of the body.
Yorikuri (Belt Hold)
Means to push-out.
Belt-Hold Rules Of Recognition are:
- Identified by lack of a shadow on one end.
- Opens on its Low and has no Lower Shadows.
- Bearish black Belt Hold Opens on its high and had no upper Shadows.