The Bearish Long Black Candle
The long black candle is a direct counterpart of the long white candle discussed earlier in this chapter. It’s a long candlestick compared to other candlesticks on the same chart, and most or all of it is made up by a solid candle.
Understanding long black candles
A long black candle is created when the bears seize control at the start of a day and push until the day’s end. Figure 5-14 is a picture of a typical long black candle.
For some quick insight on the numbers involved, have a look at Figure 5-15, which is an intraday chart of price action that creates a long black ...