Candlestick analysis in Heineken chart
Stock: 3255 Heineken
Chart: Daily
Period: June - July 2018
Hanging Man appears on June 7, indicating an end to the bullish trend. This is further confirmed with the next day red candlestick close which is lower than the Hanging Man close. Trend then changed to bearish until June 26, which a hammer appeared. This indicates an end to the bearish trend. The bullish confirmation is given when the next day's green candlestick closed higher than the bullish hammer.
If you've long right after the hammer you would have profited handsomely.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.