Green Opening Marubozu

This candlestick represents extreme bullishness and it is characterized with a long green body that has an upper shadow but no lower shadow.

Recognition Criteria

1. The body of the candlestick is green and long.

2. There is no lower shadow.

Candlestick Requirements and Flexibility

The green body of the candlestick should be longer relative to the other candlesticks on the chart. It has a shadow on the closing side but no shadow on the opening side.

Trader’s Behavior

A Green Opening Marubozu indicates that buyers controlled the price action from the first trade to the last trade. The day opens and prices continue to go up all day long without looking back, thus forming a long green day with no lower shadow. However, the day does not close at the high of the day, and thus creates an upper shadow.

The candlestick is generally bullish. However, its position within the broader technical picture is also important. It may show a potential turning point and that prices have reached a support level after an extended decline (Bullish Belt Hold Pattern). If it is seen after a long and significant rally, it may point to excessive bullishness, and that prices are at dangerously high levels. Still, the candlestick alone is not reliable enough to decide the direction of the markets, since it reflects only one day’s trading.