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The most bullish of the candlestick pattern is the long white candle. It represents that day when bulls have been in total control of the market throughout the trading day pushing prices higher from the opening to the closing.

There were some sellers also in the market. Buyers were just buying from them and pushing the prices still further throughout the trading day! So when a bullish long candle is formed, it indicates that buyers have been buying throughout the day.

Now, what this means is that prices have been constantly rising throughout the trading day. The closing price was equal to the high of the day or very near the high of the day. This is an indication that the buyers are not done with their buying. The following day the bulls will still be in control and pushing the prices further higher. This is an indication of the fact that there are not enough stocks or securities in the market to satisfy the buying appetite of the investors. With high demand and low supply, the prices will continue to rise!

A White Marubozu may not be formed quite frequently on the chart. Most of the time, you are going to find the white long candle with a wick on either side of the candle body. These wicks will be small offcourse. What this indicates is that the closing price was close to the high of the day but not equal to it. In the same way, the opening price was close or near to the low of the day but not equal to it!Now, a true White Marubozu is a special variation of the long white candle with the closing price equal to the high of the day and the opening price equal to the low of the day.

How do you know that this is indeed the white long candle? You wil find many bullish white candles on the chart. Off course, everyone will not be the white long candle. When you find that 90% of the area between the low and high of the day is covered by the candle body, you know that this is indeed a long white candle.

On a long white candle day, a lot of price action is covered by a very short amount of time. Price action doesn’t move in one direction for that matter without retracing some part of it. This normal retracing of the price action gives you a chance to act on the signal provided by the bullish long white candle.

With long white candlesticks, the low price on the candlestick is a good support level. Support is the level where the buyers are expected to support the price of the stock or for that matter the security.

Now there are three variations to the long white candle. The long white Marubozu without any wick, this is the most bullish. The other is the closing white Marubozu. In this case, the close is equal to the high meaning there is no wick on the top. The other is the opening white Marubozu. In this case, the opening price is equal to the low meaning that there is no wick on the bottom.

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