Candlestick Patterns Basics – cont’
Marubozu
Marubozu in Japanese simply means Bald Head and in terms of candlesticks it is referring to the candlesticks that have no shadows from either sides of the bodies. Depending on whether the candlestick’s body is filled or hollow, the high and low are the same as it’s open or close. As in the picture below there are two types of Marubozus.
Marubozu-Forex-candlestick
A White(hollow) Marubozu is a long body candlestick with no shadows on either end which is considered as an extremely strong pattern. It opens on the low and immediately heads up. It continues upward until it closes, on its high. Counter to the Black Marubozu, it is often the first part of a bullish continuation pattern or bearish reversal pattern. It is called a Major Yang or Marubozu of Yang.This is where the buyers were controlling the whole session.
A Black(Filled) Marubozu is considered as weak indicator, It is often identified in a bearish continuation or bullish reversal pattern, especially if it occur during a downtrend. A long black candle could represent the final sell off, making it an “alert” to a bullish reversal setting up. The Japanese often call it the Major Yin or Marubozu of Yin.This is where the sellers were controlling the whole session.
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