It forms with: • A small real body • A long lower shadow (wick)
What it tells us:
When the market is in a downtrend and a Hammer appears, it signals potential strength building underneath. Sellers pushed price down, but buyers stepped in aggressively and drove it back up.
This shift suggests that buying pressure is increasing — and the price may be preparing for a move higher.
The bulls are still firmly in control if the push continues we may fill the wick but I expect a hard crash after wards because profits taking may start and also this is where bears are also super active...
$IR and $INIT too volatile makes me ignore them, I shared my thoughts on both of them but thier volatility is now invalidating our risk to reward ratio...
The reason $IR bulls are struggling is we are just under a major resistance level a sustainable breakout can be a great place to setup a long position target is to fill the wick...
But currently IR is showing weakness and we are going to look back at our short level if we lose 0.074 then our short is valid...
Watch closely and don't miss the opportunity...
both side setups are valid but only with bold confirmations....