Which is better pin bar or hammer?

There is a lot of debate about Pin bar vs Hammer, which is the best for trading analysis. Some traders swear by pin bars as a better tool to trade. In this article, we’ll go through both patterns so you can learn which is better, pin bar vs hammer. Pin bar Vs Hammer – What’s The Difference?

What is the difference between pin bar and hammer candlestick pattern?

The Pin bar and Hammer Candlestick Pattern are both exactly the same. However, the Hammer pattern is a bullish candlestick pattern that indicates a reversal in trend. The Pin bar version of this is just called a Bullish Pin Bar. Likewise, the pin bar is also called the same for a shooting star when they are found at the top of a bullish trend.

What is the difference between Hangman pin and hammer?

Difference is mainly in relation to where it appears. Pins bars can be used to define reversal points if found at the swing points however the Hangman Pin is a continuation signal which is found at the top. If found at the bottom the same candle is noted as a Hammer.

What is a hammer pattern in forex trading?

Nowadays a candlesticks chart is the preferred way among Forex traders to look at a market. Hence, the pin bar became a single candle, but the principle to trade it are the same. The equivalent of a pin bar in the Japanese approach is the hammer pattern. A hammer is a bullish pattern that forms at the bottom of a bearish trend.