A Long Candle is a simple Japanese candlestick that has a long body and short or non-existent wicks. The long body indicates that the price was huge and it moved from open to close, while the lack of wicks indicates that there was little or no retracement during the move.
Long candles can be either bullish or bearish, and they can occur in any time frame. the size of the candlestick can indicate the strength of the move. The larger the candle, the more significant the move. Lastly, the close of the candle can be significant.
If the close is near the top of the range, it may indicate that the move is likely to continue. The white long candlestick may have great significance if it is established at a significant support level, Long black or red candles suggest strong selling pressure. This implies a bearish price.
when looking at a long candle, it’s important to consider the context of the market. Additionally, it’s important to consider other technical indicators and chart patterns that are present.
How to Identify a Long Candle
To identify the pattern, you should follow these steps;
- Check the candles for long bodies.
- Look for candlestick with short or no wicks.
- Note the color of the candlestick as the color is important.
- Check the close of the candle.
