Forex Trading by Matt Anderson

Author:Matt Anderson
Language: eng
Format: epub
Tags: forex trading, forex, forex strategy, price action, price action trading, forex candlestick
Publisher: Matt Anderson
Published: 2022-06-16T00:00:00+00:00

If the real body is red we have a bearish marubozu.

Even for this pattern, just catch the logic behind it, so there's no need to be super rigid about the rules.

If you see a very small upper shadow or a very small lower shadow, you can still consider the candle as a marubozu.

Let's consider a bullish marubozu for example. From the very beginning to the end of the session, buyers push the price higher.

So this candle is the most powerful sign of buyers on the market.

In Forex market, we see that buyers start to buy the couple from the beginning of the session to the end.

Now the question is: if the buyers have been so active during the session and were still active by the end of the session, is it likely that they want to buy some more when the next session opens?

Yes! That's why traders expect to see another bullish candle after a bullish marubozu.

So far, we have only seen reversal signals.

Marubozu can be used as a reversal pattern and as a continuation one as well.

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