so today was pretty much a hammer

Discussion in 'Trading' started by IronFist, Oct 6, 2008.

  1. following a decline...

    are we ready for a bounce?
  2. a hammer?

    the dow ended down 3.58% and the nasdaq down 4.34%... not at all
  3. small body relative to a long tail that's ~= 2x the body height.
  4. go ahead and base your idea on one bar, lets see how you do..
  5. must have been a hammer because many folks got hammered today.
  6. Kinda what I was thinking. Thats a massive inverted hammer on the daily. However in this environment who knows.
  7. "following a decline"
  8. Zlatko


    We won't know for certain until tommorow.

    We close with a big white candle that fills the gap tommorow, and the bottom is in. Of course, by that time it'll be too late to take advantage of it.