The most bullish of patterns is the long white candle. It represents a day during which the bulls controll trading and push prices higher from the opening to the closing. As the price moves up, sellers come in, but not enough to keep the price from continuing its rise. Any time sellers show up during this day, the buyers buy from them, and prices move higher. With the long white candle closing near the high, odds are the bulls aren't done with their buying and will be back for more on the following day. There just wasn't enough supply of stock by sellers to keep the buyers from pushing the price up.
The Japanese term for a long white candle is the white marubozu. There's a slight difference between a marubozu and a long white candle: The long white candle may have some wick exposed on both ends. A true white marubozu has either the opening price equal to the low for the day, the closing price equal to the high, or both. A long white candle may not have the open equal to the low or the close equal to the high, but its open should be near the low and the close near the high. A true white marubozu has either the opening price equal to the low for the day, the closing price equal to the high, or both leaving no wick.
The Japanese names given to certain candlestick patterns or individual candlesticks can reveal important characteristics. Loosely translated, maru-bozu means bald or little hair. These single-stick patterns earned their name because they don't have much of a wick on either end of the candlestick. The sticks are bald!
Due to the baldness, the marubozu is a unique type of white candle. There are several specific types of long white candles. Although they all depict bullishness during the day, there are some unique characteristics to keep an eye out for, which are covered in this section.
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