Doji lesson 1-2-2020
Hello again. I am just being observant this a.m. and looking at these dojis on the 1hr. This method is not perfect but I use it often. When I see a doji (like the ones indicated) and the doji is at the top of an uptrend or downtrend I will often take a position. I can not tell you I have won every time I do but I would put my win/loss ratio to 75% win - 25% loss. Bitcoin has a mind of its own and if you have traded for any amount of time you should know that by now. But there are a few things that can signal a turn around and this is one of them.
When a doji shows up at the top of an uptrend it can signal a drop. If the doji shows up at the bottom of a down trend it can signal a reversal as well. You need to play these with a stop loss. Anything can and will happen. If the doji shows up at the bottom of a downtrend than pay attention to the wick. The wick should be longer on the bottom from my experience. These dojis seem to work better than the ones with a taller upper wick.
Same goes for a doji at the top of an uptrend. If the wick on top is taller than the one below it works better as a reversal indicator in my opinion. Its easy to see how well this method works. Just scroll back through history. I have made decent $$$ from this technique. But WTFDIK right?
When a doji shows up at the top of an uptrend it can signal a drop. If the doji shows up at the bottom of a down trend it can signal a reversal as well. You need to play these with a stop loss. Anything can and will happen. If the doji shows up at the bottom of a downtrend than pay attention to the wick. The wick should be longer on the bottom from my experience. These dojis seem to work better than the ones with a taller upper wick.
Same goes for a doji at the top of an uptrend. If the wick on top is taller than the one below it works better as a reversal indicator in my opinion. Its easy to see how well this method works. Just scroll back through history. I have made decent $$$ from this technique. But WTFDIK right?
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