Question: What is the Candlestick pattern "Long Black Boy"?
A candlestick of a long black body that forms at the end of an uptrend, or at a resistance area.
This has bearish reversal implications.
The prolonged rally brought prices higher to a point that caught the traders’ attention, triggering profit-taking and sell orders.
As a result, the closing price is much lower than the open price signaling a possible end of the uptrend and new downward move.
Supply/Demand | Supply is greater than demand. |
---|---|
Sentiment | Negative |
Direction | Bearish |
Trigger | Consider selling if next candle falls below the low of the long black body |