Rickshaw Man

The Rickshaw Man is a type of candlestick Long-Legged Doji where the body can be found at or very close to the center of the candlestick.

The Rickshaw Man candlestick occurs when both bulls and bears control the price of a security at different times during the same period. This disparity creates a wide trading range for the period, thus generating long shadows on the candlestick. Despite the significant volatility indicated by the Rickshaw Man, it does not indicate a clear directional movement and the price closes very close to its opening price.

The dynamics indicated by the Rickshaw Man suggest indecision in the market, but could send a signal to traders depending on the context. In some cases, the pattern could represent a period of consolidation, which could suggest the continuation of previous trends. In other cases, the pattern could indicate indecision at the end of a bull run, which could suggest a market reversal.