A Quick Overview of Black Marubozu Pattern
Marubozu means "bald head" or "shaved head" in Japanese. This is because such a candle does not have at least one shadow, signaling that the opening or closing price will be equal to one of the candle's maximum values. The absence of both shadows on a Marubozu indicates that the market opened and closed at the candle's extreme levels. Black marubozu is an unusual candle. Black marubozu candles can arise anywhere in a trend and, According to Bulkowski, 54 percent of the time, they suggest that the trend will continue.
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