Bearish Black Closing Marubozu
BEARISH BLACK CLOSING MARUBOZU (BBCM)
has an upper but no lower shadow
1. A BCM has an upper shadow;
2. When the day opens, the prices move up (creating the upper shadow) but the prices then move down all day long, creating the long black body; and
3. The day closes at the low of the day (thus, the absence of the lower shadow).
The BCM is a single stick pattern distinguished by its long black body. It is a strong bearish pattern. It is a day of the bears. Since the bears are in full force, it may show two things: the downtrend continuation or a final sell off attempt just before the bulls regain control.
1. A BCM can either be the initial phase of a bearish continuous pattern or it may signal a bullish reversal (this depends on the previous day’s candlesticks)
2. The BCM must be considered with other sticks to better judge the trend direction.