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FrontPage University - chart - 443940
HAMMER PATTERN PSYCHOLOGY💥💸⭐
After a downtrend has been in effect, the atmosphere is very bearish. The price opens and starts to trade lower.
The bears are still in control. The bulls then step in. They start bringing the price back up towards the top of the trading range. This creates a small body with a large lower shadow. This represents that the bears could not maintain control.
The long lower shadow now has the bears questioning whether the decline is still intact. A higher open the next day would confirm that the bulls had taken control.
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