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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: KingHigh who wrote (16814)	4/5/2011 5:42:58 PM
From: cycleupcycledown	Read Replies (2) \| Respond to of 219176

Hi...I think it was a long white candle...... " Long white candlesticks show strong buying pressure. The longer the white candlestick is, the further the close is above the open. This indicates that prices advanced significantly from open to close and buyers were aggressive. While long white candlesticks are generally bullish, much depends on their position within the broader technical picture. After extended declines, long white candlesticks can mark a potential turning point or support level. If buying gets too aggressive after a long advance, it can lead to excessive bullishness."

To: KingHigh who wrote (16814)	4/5/2011 6:25:55 PM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 219176

I checked it out... today a White Closing Marubozu was formed in silver. The White Closing Marubozu is a single candlestick pattern characterized by a long white body with a shadow on the open and but no shadow on the closing end of the body. This candlestick shows that the day opened and then prices went lower slightly, however it was followed by a rally that drove the prices over the opening price and the rally continued all day ending with a closing price equal to the high of the day. Hence the bulls were very strong during the day except the initial phase of the session. The bull strength caused some concern among the bears leading them to cover their short positions thus adding fuel to the rally. What a White Closing Marubozu says about the future course of the prices depends a lot on the general picture just as in the case of White Marubozu. White Closing Marubozu can possibly be the first part of a bullish continuation pattern or it may also be interpreted as a bearish reversal candlestick pattern depending on the preceding day's candlesticks. The White Closing Marubozu is a single candlestick pattern with low reliability. It only reflects one day's trading and it may show the continuation of the trend but it may also indicate reversal. It needs to be used with other candlesticks for a better and healthier judgment about the status of the trend. candlesticker.com GZ