Bearish Long Black Candlestick
BEARISH LONG BLACK CANDLESTICK (BLBC)
signals strong selling pressure in the market
1. We have a relatively long black body; and
2. The sizes of the upper and lower shadows are not important
LBCs indicate strong selling pressure. A longer black stick shows that the close is further below the opening price. The prices go down significantly, indicating that sellers were aggressive.
The Long Black Candlestick is generally bearish. But it may warn a turning point or signal a future resistance level after a long rally. The LBC may signal panic if it appears after a long decline.
1. The LBC is a pattern with low reliability
2. To confirm a trend, it should be studied with other candlesticks.