Red Hammer Candlestick

In technical analysis, one often used reversal pattern is the red hammer candlestick. It shows up near the bottom of a declining trend and suggests a possible change in market attitude from negative to positive. Unlike a regular hammer, which is usually green, a red hammer results when the closing price is somewhat less than the initial price. Although at first look this may appear bearish, the lengthy lower wick shows significant buying pressure, suggesting that bulls are entering to drive prices higher.
We will thoroughly discuss the red hammer candlestick in this blog, covering its development, importance, and ways in which traders may use it successfully in their trading plans.
What is a Red Hammer Candlestick?
Usually ending a decli