Sunday, January 14, 2018 3:08:18 PM
When I'm right this is a very bullish sign but it has to be confirmed. Next Monday can make the difference. Fingers crossed.
If the candle is bearish (black or red), the bears take the reins and force the price downward. After they’ve done all they can, they experience a pushback. The bulls take over and propel the price back up so the interval’s close is relatively far above the overall low.
The Long Lower Shadow candlestick is typically considered to be a bullish signal, but it is quite weak in this capacity. In addition, when the market is oversold or at support, the Long Lower Shadow candlestick tends to be more significant.
Although the Long Lower Shadow candlestick doesn’t have a lot to say on its own, it should still be included in the larger conversation.
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