LONG BLACK CANDLESTICK
The chart showing Series 1 series.
LONG BLACK CANDLESTICK
Definition
This candlestick implies relatively strong selling pressure, showing that prices declined significantly from open to close throughout the day, with sellers being aggressive.
Recognition Criteria
1. The candlestick has a long black body.
Candlestick Requirements and Flexibility
The candlestick’s black body should be longer compared to the other candlesticks on the chart, and the lengths of the shadows are inconsequential.
Trader’s Behavior
This candlestick is generally bearish. However, its position within the broader technical context is also crucial. It may indicate a potential turning point, suggesting that prices have reached a resistance level after an extended rally. If observed after a prolonged decline, it may signal panic or capitulation, representing a final sell-off attempt before bulls regain control. Nonetheless, the candlestick alone is insufficient to determine market direction, as it reflects only one day of trading.
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