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December 10, 2017

Question:What is "Long White Boy" of Candlestick price chart on MT4?

Answer:

A candlestick of a long white body that forms at the end of a downtrend, or at a support area. This has bullish reversal implications.

The prolonged decline brought prices lower- to a point that caught the traders’ attention, who then entered the market aggressively at the beginning of the session pushing prices higher.

The closing price is greater than the opening price, signalling a possible end of the decline and new upward move.

 Supply/Demand Demand is greater than supply.
 Sentiment Positive.
 Direction Bullish.
 Trigger Buy if next candle exceeds high of the long white body.

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