Bullish Candle
A bullish candle is a type of candlestick chart pattern used in technical analysis. It is a chart pattern that indicates a potential increase in the price of a security. The pattern is formed when the opening price of a security is lower than the closing price, resulting in a candle with a long body and no wick. This indicates that buyers have been able to push the price higher than the opening price.
History of the Term
The term “bullish candle” was first used in the late 19th century by Japanese rice traders. The traders used candlestick charts to track the price of rice and other commodities. The bullish candle was one of the first chart patterns to be identified and used by traders. The pattern has since been adopted by traders and investors around the world.
Comparison Table
| Pattern | Opening Price | Closing Price |
|---|---|---|
| Bullish Candle | Lower | Higher |
| Bearish Candle | Higher | Lower |
Summary
A bullish candle is a type of candlestick chart pattern used in technical analysis. It is a chart pattern that indicates a potential increase in the price of a security. The pattern is formed when the opening price of a security is lower than the closing price, resulting in a candle with a long body and no wick. This indicates that buyers have been able to push the price higher than the opening price. For more information about this term, you can visit websites such as Investopedia, The Balance, and Investing.com.
See Also
- Bearish Candle
- Doji Candle
- Hammer Candle
- Hanging Man Candle
- Inverted Hammer Candle
- Marubozu Candle
- Spinning Top Candle
- Technical Analysis
- Candlestick Chart
- Price Action
