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Dojis

📊 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
XAGUSD 1D. Update. Target Reached: Retrace Doji candle. Just a quick update. We got the retest of the trend line! Silver went slightly beyond my target price and has formed a Dragonfly/Hammer Doji. I'm no longer in the short trade. Look to see how often on the daily the long tailed Doji candles play out to the upside. Price action candle types helping us anticipate changes. I'm still short inclined and I will wait to see how this develops. But, I'm not giving too much of my gains back to the market. Summary. Short term long.
OANDA:XAGUSD
by iDoji
2
BTC - H1 - TRADING IN THE ZONE - AT A GLANCEH1 : Watch the clouds as an important support zone. 2 successives dojis took place which triggered a rebound. Technical indicators are showing some signs of a recovery. Resistances levels are the following : R1 : 56327 R1 : 56713 (currently the downtrend line resistance level) R3 : 57099 IMPORTANT TO NOTE THAT 57099 IS ALSO THE LEVEL OF THE MID BOLLINGER BAND ! Therefore, in order to invalidate the ongoing tactical bearish price action, BTC need to recover and hold above 57100 and which is the case, focus will be on 78.6% Fib ret @ 57650 Watch M15 for intermediate signal (s)
BITSTAMP:BTCUSD
by Ironman8848
2
Gold Doji Candles & $1700 On Deck#gold #gc1! – Gold has been trading in the upper end of its three-day range after selling off last week with other global markets, and the reversing back to the upside this week. Candle 1 shows the selloff back down to $1,560 last week. Candle 2 is a long-legged doji, or sign of indecisiveness in traders as they pushed price higher and lower during the course of the day, then ultimately closing price near where it opened. Normally the direction after a doji candle indicates the future trend. Candle 3 shows the reversal back to the upside after trader indecision the previous day. Candle 4 shows shows trader indecision again at the upper end of the weekly price range. Orange lines show the upper end of the range and where price is holding for now. I’m expecting a push higher on today's candle pointed to with the arrow as price is holding within the upper end of its three-day range. Ultimate resistance is shown in red, up near $1700. A push and close above that level would put $1750-$1800 on traders radar going forward on the march back to all-time highs near $2,000.
COMEX:GC1!Long
by PrepForProfit
LTC has lots going for it todaySo the one of the last 4h candles FINALLY closed above the 50 EMA. Prior to that it kept getting pushed below it like a a bully to a kid on the playground. The following 4h candle opened and stayed above the 50 EMA too, so that's great. We have stayed in a tightening range which is pushing back against the resistance hard, bulls are starting to wake up. We have a bull MACd cross on the daily as well, with a sexy looking doji candle on the weekly chart, all of which are pointing to a bullish breaking point that is going to happen very soon. At least so I imagine. if we break bearish (which I wont eliminate as a possibility) it will probably be because of a lack of bull volume. But, it's starting to show up and may be holding back until just enough pushes us past some of these lines. When it does though, I'm optimistic that it will push us past 175 resistance and help us form some daily higher highs. Not much new, just wanted to point the break past the 50 EMA and that sexy weekly doji candlestick. Like, comment with feedback, and follow! As always, I'm no professional, but a LTC enthusiast for sure, so DYOR, chart your own crap, and don't take my fin. advice (because that's not what this is at all). Peace and hair grease.
COINBASE:LTCUSD
by jbutler7