Lessons › Candlesticks › Wait for confirmation
World 1 · Candlesticks · lesson 19 · level 3
Wait for confirmation
A pattern is a question, and the next candle is the answer.
What it is
After a fall, a long lower wick shows buyers stepped in.
Your task in the app
Find the hammer. Then decide: buy, sell, or wait?
How often it worked
| Market | Times found | Target first | Stop first | Went nowhere |
|---|---|---|---|---|
| India (NSE) | 130 | 38% | 57% | 5% |
| United States | 170 | 34% | 63% | 4% |
| Japan | 82 | 43% | 52% | 5% |
| Crypto | 2,168 | 29% | 58% | 12% |
| Forex | 203 | 34% | 54% | 12% |
| Commodities | 44 | 23% | 64% | 14% |
Counted on real past charts by the Trading Class research engine, 2,797 cases in all. Past odds, not a forecast.
Read more on the Hammer pattern page.
Goal of this lesson: Use the next candle to confirm or cancel a candle pattern's signal.