The Inverted Hammer looks identical to the Shooting Star but occurs during a downtrend and signals a potential bullish reversal. The Inverted Hammer at the bottom of a downtrend can suggest that a bearish trend might be losing strength, and a reversal to the upside could occur. As with the Shooting Star, traders typically seek confirmation through additional bullish candlesticks or other indicators to strengthen the reversal signal. Learning and understanding the behavior of these patterns can help you gain valuable insight into the changing trends of Forex trading.
This course teaches you about how to use the shooting star and hammer candlestick patterns and how to implement them to great effect in Forex trading.
Shooting Star And Inverted Candlestick Pattern Uses
Both the shooting star and the inverted hammer patterns are highly useful for traders analysing in Forex trading as they both provide insights into potential market shifts. They can also be used in conjunction with other technical analysis tools as well. In this course, you will learn how to use the shooting star and hammer patterns both individually and with other tools. You will learn how to read support and resistance levels, moving averages, and also what context in which these two patterns appear plays a significant role in the information that they can bring.
You will learn the complete ins and outs of these two individual patterns and how to implement them with Forex market analysis. You will know what is meant by a shooting star appearing after an uptrend, what a bearish reversal means, while using the hammer after a downtrend, and what that means to a reversal. All of this and more will be taught to you along with the understanding of their structure and significance, and how you can use them to make accurate predictions, boost your trade gains, and enhance your strategies in the world of Forex trading.
