Friday, 27 December 2019

Get to know an example of a Standard Doji candlestic




Each doji candlestick signifies market doubt and the potential for direction changes by price action. (Always remember that the "potential" of a change is not a guaranteed change of direction.)

A doji is formed when the level of a currency pair in which the open and close prices are the same or almost the same in the period of the chart where the doji occurs.


Doji are popular and widely used in trading because doji is one of the more recognizable candlesticks and the doji axis provides a good guide to where a trader can stop it. "

The Long Legged Doji below only has a greater vertical line extension above and below the horizontal line. During the term of the candlestick, price action significantly moves up and down but closes at a level that is almost the same as it opened. This shows doubts between buyers and sellers.

The Dragonfly Doji below can appear at the top of an uptrend or downtrend and signal potential changes in direction. There is no line above the horizontal bar that indicates the price is not moving above the opening price. The far lower axis on this doji at the bottom of the bearish movement is a bullish signal

The Graji Doji below is the opposite of Dragonfly Doji. This appears when price action is opened and closed at the lower end of the trading range. Once open the buyers are able to push the price up but in the near future they are unable to maintain the bullish momentum. At the top moving up, this is a bearish signal.

4 The Doji Price below is only a horizontal line without vertical lines above or below horizontal. This will be the most doubtful when high, low, opened and closed (all four prices are represented) by candlesticks and pesis. This is a very unique pattern that signifies doubt, occurring only in a very quiet market.

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