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22.09.2019

AAKASHAYA PATRA SEVEN STAR SMART EDUCATION SERIES PART – 26 :

THE MARUBOZU (One Candlestick Pattern)

Description:

The marubozu candlestick pattern is a long candle, which implies that the day‘s trading range has been large. And it should have no upper or lower shadow (marubozu in Japanese means ―shaved‖).

Criteria:

1. Trend should be down or up for a good period.
2. The body of the candlestick will be green or red and long.
3. There are no upper or lower shadows.

4. The candle showing the market is in control of Buyers or Sellers.
5. For confirmation Buy/Sell if market opens Gap up or down or sustain above/below the closing of the previous candle.
6. Large volume on the Marubozu day increases the chances that a blow-off day has occurred although it is not a necessity.
7. Stop loss will be the Low or High of Marubozu.
8. Target 1:2 Ratio minimum for more modify stop loss time to time.

Pattern Psychology:

A Green Marubozu simply means that the opening price is equal to the low of the day, and the closing price is equal to the high of the day. This shows that the buyers controlled the price action from the first trade to the last trade. The day opens and prices continue to go up all day without looking back, thus forming a long green day with no lower shadow. The day also closes at the high of the day with no upper shadow. This candlestick is generally bullish. (Vice-Versa)


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