The white opening marubozu is a single candlestick pattern with a long white body, an upper shadow and the lack of lower shadow.
The day opens and prices rise above the opening price. Prices continue to move up all day thus forming the long white body. The closing price is above the opening price but not at the high of the day that creates the upper shadow.
Reliability and relationship
The white opening marubozu is a single candlestick pattern with low reliability. It only reflects one day’s trading and may be suggesting either continuation or reversal. Hence it must be considered with other candlesticks to better judge the direction of the trend.
The white closing marubozu could be part of a continuation pattern or of a trend reversal pattern, depending on the neighbouring candlesticks.
The marobozu patterns have different variations, you may check them too:
white marubozu, white closing –, black –, black opening –, black closing –
