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Re: marklar3 post# 74237

Friday, 02/08/2013 12:49:04 AM

Friday, February 08, 2013 12:49:04 AM

Post# of 238163
Good question!I don't know how much the EOD candle can depict the beginning of the next day.A "hammer" candle usually shows that the buyers staved off the sellers in that 5 minute period.On a longer 6 month chart a hammer may indicate a bullish reversal pattern if it forms on a down trend.A hammer that formed in a 5 minute period at the EOD probably has little significance to tomorrows opening.