Bearish Black Marubozu
BEARISH BLACK MARUBOZU (BBM)
no upper and lower shadow
1. A Black Marubozu has a long black body with no upper or lower shadow;
2. It shows that prices move down all day;
3. The absence of a lower shadow shows that the day closes at its lowest level.
A Black Marubozu is formed when the prices move down all day long without stopping. It may show continuation of the downtrend or a final sell off attempt before the bulls take over. It may be the initial phase of a bearish continuation pattern or signal a bullish reversal. The pattern has a low reliability.
1. The opening price is the high price of the day
2. The closing price is the low price of the day
3. The BM must be used with other sticks for trend confirmation.