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This pattern signals a trend...	How to identify...	Similar pattern(s)...
Reversal	Small real body at the upper trading range. Color of the body is not important. Long lower shadow at least twice the length of the body. Little or no upper shadow. Previous trend should be bearish.	Bullish Hammer is a special case of the Dragonfly Doji. Bearish Hanging Man.

Psychology...

As with any single candlestick, confirmation is required. The Bullish Hammer formation shows the price goes much lower than the open then closes near the opening price. This fact reduces the confidence of the bears. Ideally, a white real body Hammer with a higher open the following day could be a bullish signal for the days ahead.

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