Gravestone (Bullish)

Implication

The Gravestone (Bullish) candlestick indicates a possible reversal of the current downtrend to a new uptrend. The Gravestone (Bullish) is mostly seen as a bottom pattern indicating the end of a downtrend. This pattern is an indication of a financial instrument's SHORT-TERM outlook.

Description

The Gravestone consists of a long Upper Shadow and no Real Body (that is the open is equal to the close for the session). There should be no Lower Shadow for a Gravestone.

Trading Considerations

A small Lower Shadow is acceptable.

A small Real Body is acceptable.

A next session bar confirming bullish direction is recommended.

Criteria that Support

The longer the Upper Shadow the more significant the pattern.

Criteria that Refute

If a Lower Shadow exists and is too long then it will reduce the significance of this pattern.

If a Real Body exists and is too large then it will reduce the significance of this pattern.

To learn more, click here to view Technical Signal Overview

Data disclaimer: Technical analysis data and indicators are provided by Trading Central. Trading Central is a separate entity, unaffiliated with Webull Financial. Webull is not responsible for the accuracy or completeness of data provided by Trading Central. All data are provided for informational purposes only, and are not intended, and should not be construed, as investment advice or recommendations.