I FOUND IT! BLACK & RED "OXY" (OXYMORONIC) CANDLESTICKS (from StockCharts.com)
General (Traditional) Rules for Filled vs Hollow Candlesticks:
1. If Close Today < Open Today, Candlestick = Filled
2. If Close Today > Open Today, Candlestick = Hollow
Note: On StockCharts.com, filled candlesticks are
normally colored RED.
RULES FOR OXY (OXYMORONIC) CANDLESTICKS
1. If Close Today < Open Today,
and
Close Today > Close Yesterday,
Candlestick = Filled & Black
This is a BLACK OXY.
2. If Close Today > Open Today,
and
Close Today < Close yesterday,
Candlestick = Hollow & Red
This is a RED OXY.
These candlesticks are called OXY, i.e., "oxymoronic,"
(meaning self-contradictory), because they are colored
bullishly, but filled bearishly (i.e., a filled, black
candle) or vice versa (i.e., a hollow red candle).
investorshub.com
For example, in the GE chart above, notice that filled, black candlesticks appear at several important peaks on the chart. They happened because GE opened significantly higher than the previous day's close ("gapped up"), fell during the day, yet managed to still close above the previous day's close. Less obviously, on May 23rd, a hollow red candle appears because GE gapped down on the open, rose during the day, but didn't close above the closing price for May 22nd.
WHO CARES AND WHY?
OXY candlesticks are good to look out for because they often signal a short term reversal. But, as with all candlestick signals, they should be judged in the overall context of the individual chart and the conditions of the market, etc.
This information restated from:
stockcharts.com |
