BULLISH WHITE CLOSING MARUBOZU (BWCM)
a white body that has a lower shadow but no upper shadow
Characteristics:
1. A BWCM has a lower shadow but it has no upper shadow;
2. When the day opens, the prices go lower (thus creating the lower shadow) but then continues to go up all day, thus forming a long white body; and
3. The price closes at the day’s high (so there is no upper shadow).
Brief Explanation:
The BWCM is a single candlestick pattern denoted by a long white body. It has no upper shadow but it has a lower shadow. This is a very strong bullish pattern throughout the day except on the opening session. This shows that the day opened with prices going down slightly. However it was followed by a rally that drove the prices over the opening price, continuing all day and ending with a closing price equal to the high of the day
Notes:
1. The BWCM is a single stick pattern with low reliability
2. It needs to be seen with other sticks for a better judgment about the trend situation.
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