Weak Hammer (Example): The chart shows the price of Bitcoin vs. US Dollar. In 02/02/2018, as it says, buyers couldn't raise the price above the day open price, the D1 candle seems a Hammer with bearish body. So the final result wasn't clear and the next day, sellers could pullback the price. (Consider the red thick arrow)
thank you for the education, i like reading ideas like this. But can you explain more about what you mean in the chart?
ForecastCity
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@arvincash88, Thanks for the feedback, the chart shows price in 30 Minutes interval, the open, low and close price of the day is highlighted which forms a Daily candle like a Hammer, but since the body is bearish and the market is not clear totally, we can't guess the next day because it is a weak Hammer.
The idea is related to prior ideas, so you need to read them step by step.
arvincash88
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@ForecastCity, oh okay i found the whole lesson in lesson 4, i thought you only posting this. thanks
Hello, this is a good tutorial, thanks for writing them. I have two questions.
First, you mention "ATR-264" Sure, ATR=Average True Range. But do you mean ATR "minus" "two hundred sixty four"? As in a calculation of the size of the candle?