The Marubozu candlesticks are another coveted single candle price formation used by professional and beginning traders alike. There are of course bullish and bearish Marubozus. And contrary to popular belief, there are actually 3 types of Marubozu candles.
But don’t, they’re all easy to spot and each of the Marubozu candle types are considered to be continuation pattern signals. So just with the direction the current relative the time frame you’re looking at on your charts.
The regular Marubozu candlesticks are large full bodied candlesticks with no upper or lower wicks. Both bullish and bearish versions of the regular Marubozu should consist of just candle bodies, or the opening and close of price.
There are two Marubozu versions: Marubozu Closing and Marubozu Opening.
The Marubozu Closing candles are just like regular Marubozus but they have a lower wick but no upper wick. On the opposite side Marubozu Opening candles have no lower but come with an upper wick. Once again, all of the Marubozu candlesticks should be initially looked at as price continuation signals.