White Opening Marubozu

white opening marubozu

WHITE OPENING MARUBOZU

Explanation:

The White Opening Marubozu is a single candlestick pattern. The candlestick has a white body with no shadow at the opening but with a shadow present on the closing side. This reveals that the prices hiked during the whole trading session, but the bulls did not have enough strength in order to close the session at the day’s high. However, the strength of the buyers was enough to cause unease among the bears, even if this pattern is not as bullish as the White Marubozu pattern.

Important Factors:

Like in the case of all the other single candlestick patterns, the White Opening Marubozu pattern should only be interpreted in regard to the general picture of the market and the adjacent candlesticks. It can be the first part of an uptrend continuation pattern or a part of a reversal pattern on a bearish market as well.

If the White Opening Marubozu forms on a bearish market, it is called a Bullish Belt Hold pattern.

The reliability of this pattern is low and it should always be interpreted only after taking into account the surrounding candlesticks.

By | 2013-09-14T12:11:42+00:00 September 14th, 2013|Blog, Candlestick Patterns|0 Comments

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