Big bullish long white candle

in forex •  7 years ago 


A large white tall candle is a confirmation pattern of change with very high reliability, indicating the change in trend.

It is one that opens near the minimum and closes very close to the maximum and with a length of the real body much greater than the usual white candles that occur in the said series of prices.

To be considered a large white candle, it must be 3 times larger than the usual candles.

This bullish white candle is telling us that buyers are taking absolute control of the trend and that bearish forces have been cornered.

This white candle by nature does not imply a return signal but in itself contains a great information that helps us make decisions about the market and its outcome.

The large white candles confirm supports whether it is a price support, previous figures windows or trend lines.

If it has reached the point where the market has come to react with a white candle then it shows that the support would be reliable and a good opportunity to make long decisions.

In case the market broke a strong resistance with a white candle it would be a sign that this upward break would be a signal with strong reliability and it would be another great opportunity to enter, a large white candle is subject to a large bullish force, and the same for being a long body will act as support, usually this support is given up to half of the white real body and would be another important opportunity to enter the market.

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