Bullish Marubozu
Reference values based on Bulkowski's "Encyclopedia of Chart Patterns". Data is primarily from U.S. markets and may differ for other markets.
A large bullish candle with no (or extremely short) shadows. Open equals low and close equals high, indicating relentless buying from open to close. It represents strong buying pressure and signals the start or acceleration of an uptrend.
Enter long at the open of the next candle after the marubozu is confirmed. Or enter when price exceeds the marubozu's high.
Project 1.5-2 times the body length upward from the high. Also reference nearby resistance lines.
Place a stop-loss slightly below the marubozu's low (which equals its open).
Increased volume during formation is important. Particularly at the bottom of a downtrend, a volume surge enhances reliability.