Candlesticks Setups Patterns

Candlesticks Consolidation Pattern and XAUUSD Candlesticks Continuation Pattern

Depending on the size & shape of a XAUUSD candle it's possible to estimate the power of buyers or sellers. Likewise it is also possible to determine under-lying weakness of the buyers and the sellers.

Long Body XAUUSD Candles

Candles with long bodies show and illustrate that there were a lot of buyers/sellers, depending on the colour of the candle.

When price forms a huge move from the opening price to the closing price it shows the power of buyers/sellers.

Long Blue Candlesticks - Strength of Buyers

Long Red Candles - Strength of Sellers

Doji Candles Pattern and Marubozu Candlestick Setup - Gold Consolidation Patterns & Gold Continuation Patterns

Long Body Candlesticks

Short Body Candles

Candles with short bodies show that there weren't so many buyers/sellers and the price didn't move much from the opening price to the close price.

These show that the buyers/sellers weren't very strong.

Short Body Candlesticks

Marubozu Candlestick

Marubozu are long candlesticks that have no upper or lower shadows, Like shown below.

Marubozu XAUUSD Candles

Marubozu are continuing candle patterns which show price is going to continue moving in the same direction as that indicated by the marubozu pattern. The marubozu can be white/blue or black/red depending on direction of the market trend.

Marubozu XAUUSD Candlesticks

White marubozu - the open is also the low and the close also is the high.

Marubozu means there were no retracements during that the price period & hence displays that buyers were in total control of price.

White Marubozu is a continuation pattern meaning that the next candlestick is likely to continue in same upwards trend direction.

Black marubozu - the open is also the high & the close also is low.

Marubozu means there were no retracements and henceforth shows that sellers were in total control of the price.

Black Marubozu is a continuation pattern meaning that the next candlestick is likely to continue in same downward trend direction.

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