#b90x - DAY 21 - Technical Analysis 101 - Hammer & Hanging Man



lesson learned: a hammer and a hanging man can signify a bullish reversal or bearish reversal, respectively

note* technical analysis is not always accurate though. Is there an average percentage of their success rate in predicting the next several sessions/overall market direction?


Nope. Only time and experience can tell you that!


I’ve been so excited about getting knowlage on analysis that I forgot to post yesterday. I went on my exchange and so far have been profiting between 50 and 100 dollars on practice trades. I just write on paper my figures and buys/sells to test before I actually trade. I’m buying the hammers, selling the hangman. NOT ADVICE JUST WHAT I’M DOING. Don’t do as I do, this is for fake paper trades.


Very interesting. Question, does a Hammer have to come after a decline in price, and does a Hanging Man have to come after an increase in price, or is it just the color of them that give them their names? Say that the last three candles have been red, and the next one is a Hanging Man, is that still considered a Hanging Man, even if the candle after that is red as well?
Likewise, is this still a Hammer?




So, I’m guessing that’s a no?


Used this to find my buy in of ETC today. Thanks Peter!


Really interesting Archetypes to spot in the charts now and give us a better understanding of predicting trends, thanks for the in depth explanation Peter.

Dogelord it would be great if you can let me know if the hanging men/Hammer I spotted in this :icx: TA over 30 minute sessions is correct? Thank you :beers: