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Bullish Marubozu | Candlestick Patterns

URL
https://www.youtube.com/watch?v=6iaC2jYcMOE
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4
Description
Course on Candlestick Patterns based Automated Trading: https://quantra.quantinsti.com/course/candlestick-patterns-automated-trading Welcome to this video on the bullish Marubozu. In this video, you will learn more about a trending bullish candlestick pattern named bullish Marubozu and interpret the rationale behind the pattern. On your screen right now there is one candlestick. It's a green candlestick. Just to refresh your memory this becomes the open this becomes the close. And since there are no wicks over here the open also becomes the low of the day and the close also becomes the high of the day. How would you interpret this candle? For that let's think about how the candle was formed. Given this is our open and this is the close the price started from here. The price went up in the day. There must have been some sort of small correction. But in general the prices would have kept going up. Again there must have been some corrections. The correction may or may not have broken the previous low. However, whenever the price went up it broke the previous high. This continued till day end till the closing price. One thing you need to note over here is the price never went below the open and closed at the high of the day. That is the open became the low and the close became the high. This is how you actually got a candle that does not have any kind of wicks. Now can you tell me what this candle signifies? Clearly, it signifies extreme bullishness in the market as the price kep
Rating
5
Name
Quantra
Date
2022/09/26
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