Long Shadows
In technical analysis, long shadows are candlesticks with long upper or lower wicks and small real bodies.
This type of candle occurs when there is a lot of one-sided buying or selling pressure during the period, but it retraces before the close and heads back to the opening price.
- A bullish long-shadow drop after opening but the bulls recover and send the price back up to just above where it opened.
- A bearish long shadow candle rises upon opening but bears send the price back down throughout the session, causing it to close just below where it opened.
