Bearish Black Opening Marubozu
BEARISH BLACK OPENING MARUBOZU (BBOM)
a bearish day that should concern the bulls
1. A Black Opening Marubozu has a lower shadow;
2. The day opens and prices go below the opening price. The prices continue to go down all day thus forming the long black body; and
3. The closing price is lower than the opening price (but not at the low of the day).
The BOM is single black candlestick that has a lower shadow but no upper shadow. This shows that the day opened and prices continuously go down but they do not close at the low of the day (thus the lower shadow). It is a bearish day so this should concern the bulls.
1. In an uptrend case, the BOM is called a Bearish Belt Hold Pattern
2. The BOM has a low reliability. It may be pointing either to a continuation or a reversal. It must be considered with other candlesticks to better judge the trend’s direction.