In today’s live session we went through a key term that most of our members haven’t heard of or come across.
What is MARUBOZU?
Marubozu is a Japanese word for Dominance. In FX terms it’s basically a very powerful candle.
They have a long body with a small or no WICK at all.
The significance of the candle basically tells us that the pair or stock traded strongly during that session giving us a clue in which direction it might head in.
Below is an example of a Marubozu candle. A recent example of an FX pair is the EURGBP on the weekly candle close last week. Check the video, I explained why I would be cautious shorting the pair.
Picture courtesy of bullishbears.com
You can read more on the candle sticks on the below webpage. We also have a small mini course on our own website for candlesticks and all the other tools that we use in forex.
I.e. Fibonacci, bollinger bands, MACD divergence and much more. Also remember that these are just indicators and are not a 100% guarantee of where price will head next, so we only use them to help us determine what might happen next.
Forex is a game of probability.
You can watch me explaining this key term in the video below
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