BULLISH WHITE MARUBOZU (BWM)
A white body that has no lower or upper shadow
Characteristics:
1. It does not have a lower or upper shadow;
2. When the day opens, it goes up all day thus forming a long white body with no lower shadow; and
3. The day closes at the day’s high (so there is no upper shadow).
Brief Explanation:
The BWM is a single stick pattern with a long white body that has no upper or lower shadow. It is a very strong bullish candlestick pattern. This shows that the market controlled the price action starting from the first trade down to the last. In a White Marubozu day, the prices continue to rally up all throughout the day without looking back.
Notes:
1. The BWM is a single candlestick pattern with low reliability
2. It needs to seen with other sticks for a better judgment of the trend situation.
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