Glad to have you here at Joyful Dividends! You are reading a blog series on Introduction to Candlesticks. Today, we introduce you to the Black Candlestick, which represents extreme bullishness. If you will like to check out a series of candlesticks to help you invest profitably, please head over to Basic Candlesticks for a full list!
The body of this candlestick is black with normal length. Both upper and lower shadows are required, however, both shadows cannot be longer than the body.
The Black Candlestick implies normal selling pressure. Prices fell throughout the day from open to close and sellers were mostly in control of the price action.