What is Opening Marubozu?
Opening Marubozu has no shadow extending from the opening level. It means, if the stock ended up, there would be no lower shadow, and if the stock ended down, then there would be no upper shadow.
It is not a powerful signal like closing marubozu, as closing level is important than opening. It is important to confirm that the primary trend is in place. One should wait for the high or the low of the candle to be exceeded before initiating a position in the direction of Opening Marubozu.
White Opening Marubozu is a long white single candlestick, having an upper shadow, but no lower shadow. It is considered to be a strong bullish pattern.
Black Opening Marubozu is a long black single candlestick, having a lower shadow, but no upper shadow. It is considered to be a strong bearish pattern.
Opening Marubozu has no shadow extending from the opening level. It means, if the stock ended up, there would be no lower shadow, and if the stock ended down, then there would be no upper shadow.
It is not a powerful signal like closing marubozu, as closing level is important than opening. It is important to confirm that the primary trend is in place. One should wait for the high or the low of the candle to be exceeded before initiating a position in the direction of Opening Marubozu.
White Opening Marubozu is a long white single candlestick, having an upper shadow, but no lower shadow. It is considered to be a strong bullish pattern.
Black Opening Marubozu is a long black single candlestick, having a lower shadow, but no upper shadow. It is considered to be a strong bearish pattern.