Marubozu -> Not an easy candlestick to be found
Below here is the generally accepted Theory, but after taking it back to look at it, it does not hold water.
When a candlestick is longer and does not have a visible wick, it typically indicates a strong and decisive price movement during the time period represented by the candlestick. A candlestick with no visible wick is known as a "Marubozu" candlestick.
Here's what it suggests:
- Bullish Marubozu: If the candlestick has no visible lower wick and a long body, it signifies strong buying pressure throughout the entire period. It suggests that buyers were in control from the opening price to the closing price, and there was little to no selling pressure. This indicates a bullish sentiment and could imply a continuation of an upward trend or the start of a new bullish trend.
- Bearish Marubozu: If the candlestick has no visible upper wick and a long body, it indicates strong selling pressure throughout the period. Bears dominated the market from the opening price to the closing price, with minimal buying pressure. It suggests a bearish sentiment and could indicate a continuation of a downtrend or the beginning of a new bearish trend.
In both cases, the absence of a wick signifies that the price did not deviate significantly from the opening or closing levels during the period. This absence of retracement or hesitation emphasizes the strength and conviction of the prevailing trend.
It's important to consider the overall market context, volume, and other technical indicators to confirm the significance of a Marubozu candlestick and make informed trading decisions.