Get started

Dojicandlestick

Hanging Man and Doji Patterns in Focus!XAUUSD 2H Chart Price: 2622.23 Hanging Man: The highlighted candle in the chart represents a Hanging Man pattern, which is a bearish reversal pattern typically found at the top of an uptrend. The long lower wick signifies that sellers pushed the price down during the session, but buyers managed to bring it back up close to the open price, though not with strong bullish conviction. The fact that this pattern appears after a sharp upward move signals a potential bearish reversal, especially if followed by a bearish confirmation candle. Doji: The Doji signals indecision, with buyers and sellers unable to gain control as the open and close prices are nearly the same. Following the Hanging Man and with an overbought RSI of 73.32, it suggests weakening bullish momentum and potential for a bearish reversal. Place a stop loss above the Hanging Man’s high and set take profit near the next key support at 2,613.732. These levels are derived from the Hanging Man, providing some bearish confirmation. However, traders should feel free to skip the trade if they aren’t confident with the setup, as prioritising risk management is crucial. Confirmation: A bearish candle closing below the low of the Doji would provide strong confirmation of a trend reversal. Good luck in the markets! 🔔 To stay updated, don’t hesitate to follow! 💡 Learn 💹 Trade 🤑 Grow
OANDA:XAUUSDShort
by SpicyPips
1
Manipulation in BTC Supply Zone: A supply zone occurs when the supply of a cryptocurrency exceeds the demand. In this area, there is excess supply, leading to a falling price. On a price chart, a supply zone is associated with a downtrend. Traders often place sell orders in supply zones, expecting prices to decline further. Imp : forming doji candles in weekly chart Interpreting Doji Patterns: Bearish Doji: When a Doji forms at a resistance area, it can signal indecision or a potential trend reversal. However, the context matters: If the preceding trend is upward, a bearish Doji may indicate a reversal. If the preceding trend is downward, it could reinforce the existing bearish sentiment.
Short
by vinodhvinayan
5
EPIX - Biotech Pre-earnings Run LONGEPIX on the 15-minute chart shows a solid trend up with a set of moving averages as the guardrails now in a bit of a pullback. The after-hours price action will not appear on the chart but price jumped 5%. Earnings are anticipated for 2/8 or 2/9 as best as I can tell. Internet search information is not consistent. So, if tomorrow this is still pre-earnings but price popped 5% overnight, I will take a small long position. If the price is still pulled back to the slowest moving average, I will take a larger position. No matter I will assess it on a 3-5 minute time frame and recheck internet information regarding an earnings report. One news catalyst is that Secretary of Defense has been in and out of the hospital ( DC VAMC) with prostate cancer and maybe currently getting treatment in a clinical trial of an EPIX drug per the NIH in Bethesda. Biotech is forecasted to be one of the hottest sectors for 2024. EPIX has a trend up that impresses me. I will go long on this when I find a best entry and possibly in the next trading session. The options chain is minimal volume as so represents a liquidity trap. I will not go there.
NASDAQ:EPIXLong
by AwesomeAvani
2
PLCE crash and flush on pre-emptive warning from executives LONGPLCE as shown on the 30 minute time frame had a "waterfall" event when a bad news catalyst hit the wires. Executives announced earnings issues one month out from the report due about March 14th. Maybe is real and may not. The are no filings available to show any insider sell- off unlike what is going on at General Dynamics at its all-time high. Could those executives push traders to bail on the stock, force it to crater and then buy even more at the bottom or have friends and family help them if they are well informed ? Who knows ? Does the CEO of TSLA have a plan to help share prices drop so when his new compensation plan is set up he gets even more shares and price rises to make his unrealized losses magically disappear. Is there manipulation in the market ? Is this a case of it ? Anyway enough said. PLCE is in early reversal and recovery. It has crossed the moving averages on the chart and there is a massive volume of buyers scooping from the bottom in the closing Friday afternoon. I was one of them. My shares and options are few. ( compared with the CEO/COO/CFO guys at Children's Place.- they typically buy 100,000 shares at a pop - after all they have the confidence of already knowing what is going on inside) I typically want to see 2-3X relative volume to put on a big position. This is 4X. Seems the risk is low compared with a 60% upside back to price levels before the news. Price has already recovered partially. My stock trade is 5% above break even after less than a day and now has a 3% trail stop so I don't need to pay attention to it. The call options targeting $19 for March 16th are up 16% in the first day. I will sell to close a day or two before earnings to hedge my suppositions. If earnings are as bad as these executives say. The call options will plummet. My alternative is to keep the call options running but hedge them with a single put option below ITM for a strike OTM expiring the same day setting up a strangle to take much of the risk way. In that case, the call options would still fall with a bad earnings miss but the put option will provide insurance buffering the loss. It remains to be seen how this plays out and I will check for SEC filings at intervals. For now, I will chase the relative volume because it is higher than the typical for similar scenarios. Best of luck to any traders who take this trade.
NASDAQ:PLCELong
by AwesomeAvani
1
Monthly on btcusd.January ended with a Doji candle, a symbol of uncertainty and often when seen on the tops a prelude to reversals. But for a reversal of the trend, confirmation will be needed and we know that the underlying trend is bullish, so in this context we can use the doji candle to understand whether it will make a retracement or not, using the highs and lows of the candle. For the February or March candles, a closing below the minimum should be seen as a retracement signal because to reverse the underlying trend, in addition to confirmation, time is also needed and on this we have seen that the trend has been bullish for more than a year . A close above the doji's high, however, would be a very strong bullish signal, consolidating a trend that for now seems to catch its breath in the short term and that's all.
BNC:BLX
by Melupira89
CVNA Long after completed Fib. RetracementCVNA on a 30 minute chart trended up from November post earnings for 6-7 weeks until December 20th and then started falling from a head and shoulders pattern at the pivot. The Fib retracement tool is used to draw the retracement of the prior up trend. The Trend Based Fib Time is used on that prior up trend to show fib levels across time instead of price. Price is currently at the 0.5 Fib retracement for price and also at 0.5 for the latter tool. The other indicators show rising RSI, a flip between positive and negative directional indices and volatility beyond the running mean. I will take a long trade here targeting 52.3 which is just under a 0.5 fib retracement of the recent trend down. The stop loss will be set at 42.8 at the level of the reversal narrow-ranged candles. A option trade will be entertained for the February monthly expiration.
NYSE:CVNA
by AwesomeAvani
Learn Profitable Doji Candle Trading Strategy In the today's post, I will share my Doji Candle trading strategy. This strategy combines the elements of multiple time frame analysis, price action and key levels. Step 1 Analyze key levels on a daily time frame. Identify vertical and horizontal supports and resistances. Here are the key structures that I spotted on on AUDUSD. Step 2 Look for a formation Doji Candle on a key structure. This rule is crucially important: we will trade only the Doji candles that are formed on key levels. From key supports, we will look for buying, and we will look for shorting from key resistances. Look at this Doji Candle that was formed on a key daily support on AUDUSD. Step 3 Look for a horizontal range on a 4h/1h time frames. Doji Candle signifies indecision. Quite often, you will notice the horizontal ranges on lower time frames when this candlestick is formed. Here is a horizontal range that was formed on a 4H time frame on AUDUSD after a formation of Doj i. Step 4 Look for a breakout of the range. To sell from a key resistance, we will need a bearish breakout of the support of the range. That will be our bearish confirmation. To buy from a key support, we will need a bullish breakout of the resistance of the range. It will be our bullish signal. Here is a confirmed breakout of the resistance of the range with a 4H candle close above. That is our bullish confirmation on AUDUSD. Step 5 Buy aggressively or on a retest. After you spotted a confirmed breakout of the range, open a trading position aggressively or on a retest. Personally, I prefer trading on a retest. If you sell, a stop loss should be above the high of the range and your target should be the closest key daily support. If you buy, your stop loss should be below the low of the range and a take profit will be on the closest daily resistance. On AUDUSD, a long position was opened on a retest. Stop loss is lying below the lows. Take profit is the closest resistance. Here is how the great strategy works! Always patiently wait for a confirmation! That is your key to successful trading Doji Candle. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
4
Think You Know Candlestick Patterns?Welcome to the world of candlestick patterns! 💜If you appreciate our charts, give us a quick 💜 Doji candlesticks, with their equal or nearly equal open and close, offer crucial insights into market indecision. Understanding these formations is key to anticipating potential reversals and trade decisions. Let’s delve deeper into their significance and how to incorporate them effectively into your trading strategy. Understanding Doji: A Doji occurs when opening and closing prices are almost identical, signaling market indecision. Neutral Nature: Doji are neutral signals, highlighting the tug-of-war between buyers and sellers. Psychological Insight: Forming amid market uncertainty, Doji reflect hesitancy and potential trend shifts. 4 Types of Doji and Their Meanings: Dragonfly Doji: Description: Open and close near the high of the day. Interpretation: Sellers drive prices down, but buyers regain control. Action: Explore long positions with support from trend analysis and resistance levels. Gravestone Doji: Description: Open and close occur near the low of the day. Interpretation: Buyers initially push prices up, but sellers regain control. Action: Consider short positions if confirmed by trend analysis and support/resistance levels. Traditional Doji: Description: Open and close are almost identical. Interpretation: Strong market indecision; trend reversal potential. Action: Confirm with trend analysis; consider reversal or continuation trades accordingly. Long-Legged Doji: Description: Significantly long upper and lower shadows. Interpretation: Represents high indecision; neither buyers nor sellers dominate. Action: Await confirmation from other indicators for trade decisions. Incorporating Doji Into Your Strategy: Combining with Support/Resistance: Doji at key support/resistance levels enhance their significance. Use them to validate potential reversal points. Utilizing Trend Analysis: Doji are potent when aligned with prevailing trends. In an uptrend, Doji signal potential reversals, while in downtrends, they may indicate trend exhaustion. Implementing Fibonacci Levels: Combine Doji with Fibonacci retracement levels for robust entry/exit points. A Doji at a Fibonacci level strengthens the reversal signal. Risk Management: Define stop-loss and take-profit levels logically. Doji, while insightful, don’t guarantee outcomes. Protect your investments with sound risk management. Remember, successful trading is a blend of strategy, discipline, and adaptability. Doji candlesticks, as valuable tools, provide glimpses into market psychology. When integrated wisely, they can bolster your trading decisions, enhancing your overall effectiveness in the dynamic world of trading.
Education
by Vestinda
THIS IS BHARTI AIRTEL IDEA FOR TRADINGAs we can see stock is trading above 50ema and making hammer candles with good volume. from ATH and rsi divergence stock correct almost 5% And Doji candle on 8th Dec after a downtrend ends and the next candle formed is a hammer candlestick. which is indicating a bullish reversal, Singh. Bharti Airtel Ties Up with Meta, STC to Bring World's Longest Subsea Cable to India. (07-12-2022) The chart mentions a good support level and entry point, so plan accordingly. if you are a value buyer wait for more cuts till S1 and S2. otherwise, you can enter with strict SL which is mentioned on the chart. GOOD STOCK FOR THE LONG RUN ALL THE BEST! indicators HV=14 RSI=52 educational purpose only!
NSE:BHARTIARTLLong
by SHEHBAZ_KHAN
📊 The Doji Candle Pattern📍What is the Doji Candlestick Pattern? The Doji Candlestick Pattern refers to a chart pattern consisting of a single candle. This pattern appears when the opening and closing prices of a candle are nearly the same or identical, resulting in a small-bodied candle with upper and lower wicks resembling a "+". Different variations of Doji patterns exist, with unique names like the Long-legged Doji, Gravestone Doji, Dragonfly Doji, and Doji star candlestick pattern. Regardless of the type, all Doji patterns provide traders with four critical data points: the open, close, high, and low prices for the given period. Doji patterns can occur on any timeframe and in any market, making them the foundation of many trading strategies 🔹Long-legged Doji The Long-legged Doji pattern has an elongated upper and lower wick and a small body The Long-legged Doji can be interpreted in several ways and works best when viewed in context with price action. It is a potential price reversal signal in a defined up or downtrend. If it occurs in a flat market, it suggests further consolidation. 🔹Dragonfly Doji The Dragonfly Doji sets up when the candle’s open, close, and high is approximately the same. Visually, the Dragonfly looks like a “T,” as depicted in the image below. This formation suggests that heavy selling was present, but the market has rebounded. As a general rule, the Dragonfly is considered a reversal indicator. A retracement in price is expected when it occurs at the top of a bullish trend. 🔹Gravestone Doji The Gravestone Doji pattern is the polar opposite of the Dragonfly; it appears as an inverted “T” and signals that heavy buying has given way to selling. The Gravestone Doji is a reversal chart pattern that signals downward or upward pressure may be on the way. The Gravestone suggests that a reversal is possible when observed within a defined uptrend. Within a downtrend, bullish price action may be forthcoming. 🔸Reversals Doji candlesticks can be a great way to get in or out of the market in trending markets. The Gravestone and Dragonfly are ideal for reversal strategies as they indicate forthcoming upward and downward movements in price. 🔸Breakouts One of the lowest-risk ways to utilize Dojis in the FX market is to trade breakouts. A breakout is a sudden directional move in price. Dojis often precede breakouts, as they are a signal of indecisiveness. As soon as the market makes up its mind, a significant move may be in the offing. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
EURUSD : Bear's Can fight Back from major resistance OANDA:EURUSD Hi , trader's .. As per technical analysis , it's visible that market is near to major resistance price can possibly form double top which can lead market to downside As price reject from this important resistance there is possible chance of Hanging man or doji candle formation Any reversal shape candle will be helpful for bear's to take there selling position's ❤️Please, support my work with follow ,share and like, thank you!❤️
Short
by INVESTRONE