Marubozu Candlestick Pattern 📉📉📉
‼️ What is a Marubozu in forex?
A Marubozu is a long or tall Japanese candlestick with no upper or lower shadow (or wick). The candlestick pattern comes in both a bearish (red or black) and a bullish (green or white) form and is easy to spot due to its long body. It basically looks like a vertical rectangle.
‼️ How can you tell if Marubozu is bullish?
The closing Marubozu is a stronger candlestick pattern. It is formed when the close price is equal to the high or the low of the day. When the close price is equal to the low then it is called bearish and when the close is equal to the high it is a bullish Marubozu
‼️ What happens after a Marubozu candle?
After two long red candles, the bearish Marubozu close pattern occurs, which signals that the bears are still a dominant force. Ultimately, the price action continues to move lower as the market was very bearish during this period of time
‼️ How do you use a Marubozu candlestick?
Basically, when trading marubozu candlesticks,
Watch for bullish or bearish candlesticks to form.
If bullish, take a long when price breaks above.
Place stop below candlesticks.
If bearish, take a short when price falls below.
Place a stop above candlestick.
A Marubozu is a long or tall Japanese candlestick with no upper or lower shadow (or wick). The candlestick pattern comes in both a bearish (red or black) and a bullish (green or white) form and is easy to spot due to its long body. It basically looks like a vertical rectangle.
‼️ How can you tell if Marubozu is bullish?
The closing Marubozu is a stronger candlestick pattern. It is formed when the close price is equal to the high or the low of the day. When the close price is equal to the low then it is called bearish and when the close is equal to the high it is a bullish Marubozu
‼️ What happens after a Marubozu candle?
After two long red candles, the bearish Marubozu close pattern occurs, which signals that the bears are still a dominant force. Ultimately, the price action continues to move lower as the market was very bearish during this period of time
‼️ How do you use a Marubozu candlestick?
Basically, when trading marubozu candlesticks,
Watch for bullish or bearish candlesticks to form.
If bullish, take a long when price breaks above.
Place stop below candlesticks.
If bearish, take a short when price falls below.
Place a stop above candlestick.
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