A bullish hammer is a candlestick , that when found at the bottom of a series of red candlesticks, signals a possible reversal to the upside.
In contrary, a bearish hammer is a candlestick that when found at the top of a series of green candlesticks, signals a possible reversal to the downside.
IMI shows a bullish candlestick . Note that a hammer needs confirmation the next day. It only shows the possible reversal of sentiment.
Enter at your own risk.
EOD August 25, 2016
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