White Candlestick

WHITE CANDLESTICK

Type:	Reversal/Continuation
Relevance:	Indecision
Prior Trend:	N/A
Reliability:	Low
Confirmation:	N/A
No. of Sticks:	1

Definition:

The White Candlestick represents normal buying pressure.

Recognition Criteria:

1. The real body of the pattern is white with normal length.
2. The upper and lower shadows are smaller than the length of the real body.

Explanation:

White Candlestick shows buying pressure. It shows that prices advanced from open to close during the day and buyers were in control.

Important Factors:

The White Candlestick is not a reliable pattern like most other single candlestick patterns. Only one day’s trading is reflected in a White Candlestick. Hence it has potential to be interpreted as a continuation pattern as well as a reversal pattern. The neighboring candlesticks must be taken into account to have a healthier decision if the trend is continuing or not.