Definition
Bullish Marubozu Opening consists of a single white candle with no lower shadow. It is a strong bullish candle formation.
- Trend: Neutral
- Expected trend: Bullish
- Previous trend: Neutral
- Reliability: Low
- Type: Neutral
- Number: 1
Recognition
- Bullish Marubozu Opening has only upper shadow.
- After opening, the price starts to increase, forming a long body without lower shadow.
- The closing price is below the daily maximum, forming an upper shadow.
Interpretation
Bullish Marubozu Opening is a single, long white candle which has only upper shadow. After opening, the price increases, forming a long body without lower shadow. The closing price is below the daily maximum, forming an upper shadow. It is a typical bullish day. Bullish Marubozu Opening is not as strong as the Bullish Marubozu White formation.
Important factors
Just like other Marubozus, Bullish Marubozu Opening is not able to forecast the future behaviour of the investors. Depending on the previous candles, it can be part of both a bullish trend continuation or a bearish trend reversal. When appearing in inclining trends, the formation is called Bullish Belt Hold. Bullish Marubozu Opening consists of a single candle with low reliability.
