following is a list of the selected candlestick patterns. The length of the upper and lower shadows can vary and the resulting forex candlestick looks like a cross, inverted cross or plus sign. Marubozu means there are no shadows from the bodies. The open equals the high and the close equals the low. Marubozu, sounds like some kind of voodoo magic, huh?
They are used to describe the price action during the given time frame. Japanese candlesticks are formed using the open, high, low, and close of the chosen time period. In this lesson, were going to cover three of my favorite.
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In order for price to continue falling, more sellers are needed but sellers are all tapped out! Steve researched, studied, lived, breathed, ate candlesticks, and began to write about. Check out the two types of Marubozus in the picture below. Depending on whether the candlesticks body is filled or hollow, the high and low are the same as its open or close. The bottom of the lower shadow is the low. The small real body (whether hollow or filled) shows little movement from open to close, and the shadows indicate that both buyers and sellers were fighting but nobody could gain the upper hand.