Hammer-LarsenAndTurbo-14Feb19

Title: Hammer-LarsenAndTurbo-14Feb19
Trade plan:
Hammer candlestick indicates bullish trend (and a reversal from recent bearish trend).
Conditions:
1. Hammer appears after a significant price fall.
2. Hammer’s lower tail is minimum twice its body size
3. Hammer is green in colour
4. The Hammer’s upper tail is small size (although it could be smaller ideally)
5. Volume is relatively high on the Hammer day
6. Long position created
7. Risk:Reward = 1:1
8. Entry price set when price moves above the high of the Hammer the next day (A) = Rs. 1233
9. Stop loss set at the low of the Hammer (B) = Rs. 1201
10. Target (to Sell) at A + (A-B) = Rs. 1266
11. Risk = A-B
12. Target could even be (A + (A-B))x2