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Candlestick Strategies: The Filled Candlestick

Covered in this video:

1

Not a continuation pattern

This is the first non-continuation pattern that we've studied. It's a reversal pattern. Filled candlesticks occur when the closing price is lower than the opening price.  When we see these occur, they can be viewed as  warning sign. It doesn't mean that the stocks will rollover, but it should be seen as a tug-of-war between bulls and bears. There's enough sellers out there to almost overwhelm the buyers. At resistance levels, we know there are going to buyers or sellers who want to move their shares. 

2

Tops of trading ranges and all time highs

This pattern is most reliable at the tops of trading ranges (historical resistance) and at all time highs. The market is sending you a signal that there are profit takers above.

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