Let us tell you that the deal done on the basis of Marubozu Candlestick pattern can be of great benefit.
Marubozu means bald in Japanese. There are two types of Marubozu. 1- Bullish Marubozu 2- Bearish Marubozu.
Marubozu is a candlestick that does not have upper and lower shadows. That is why it is called Marbozu (bald).
Bullish Marubozu indicates that there is a lot of buying going on in the market. Traders are ready to buy the stock at any price.
The absence of upper and lower shadows in a bullish marubozu means that the open = low and the high = close.
Generally, the formation of a bullish marubozu changes the mood of the market and increases the chances of the stock turning bullish.
The Bullish Marubozu suggests that the bullish trend will continue and this bullish environment will continue for some time.
Bearish Marubozu means that the market is turning very bearish and market participants want to sell and exit at any cost.
The absence of upper and lower shadows in a bullish marubozu means that the open = high and the low = close.
Bearish Marubozu candlestick indicates that the selling mood is very high among the market participants.
Bearish Marubozu indicates that the market is bearish and the stock will continue to be bearish for the next few days.
Don't trade if the marubozu candle is too short and has a range of less than 1%, or if the candle is too big and has a range of more than 10%.