What is Doji candlestick patterns?
Doji candlestick patterns are common and available patterns in the forex trading platform. It's a reversal candlestick pattern. The starting price and closing price of the Doji candle are the same but such an ideal doji is not always seen. An ideal Doji carries a lot of importance for the forex trader. We find many kinds of doji in the forex trading platform. Such as neutral doji, dragonfly doji, long-legged doji, and gravestone doji. Many people call the Dragon Fly Doji by the name of T Doji because it looks exactly like the English T letter. |
| Doji candlestick patterns |
Why make a Doji Candle?
Buyer and seller fight for capture market price themselves but nobody win or defeat, then make a doji candle. At this time the number of sell or buy positions are equal.Symptoms of an ideal doji candle or neutral candlestick
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| Neutral doji |
- It has no real body.
- It looks like a plus sign.
- It's also called cross doji.
- Neutral Doji is a continuation pattern.
- Ideally, the opening price and closing price both the same for a neutral Doji but this doesn't always happen. If the opening price and closing price are the same, the Neutral Doji's have a greater importance.
- Color doesn't matter.
- increasing price is equal to decreasing price from opening price
- Neutral Doji is real Doji
Symptoms of long-legged doji candle
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| Long-legged Doji |
- The Long-Leged Doji has a long upper shadow and lower shadow.
- The opening price and closing price are the same.
- It has no real body.
Symptoms of gravestone doji candlestick
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| Gravestone Doji |
- Gravestone Doji is a clear reversal pattern.
- It appears near a resistance zone of an uptrend top.
- It looks like an inverted capital T letter.
- The opening, closing and highest prices are the same.
- It has no real body but a long upper shadow.
- When a Gravestone Doji appears on top of an uptrend then traders and investors close their buy position because price moves up to down shortly.
- It gives us a strong sell signal.
- Its alternative name is bearish doji.
- Bearish doji gives us a strong bearish signal
Symptoms of dragonfly doji candlestick
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| Dragonfly Doji |
- Dragonfly Doji is a clear bullish reversal pattern.
- It appears near a support level of a downtrend bottom.
- It looks like a Capital T letter
- The opening, closing and highest prices are the same.
- It has no real body but a long lower shadow.
- When a Dragonfly Doji appears at bottom of a downtrend then traders and investors close their sell position because price moves down to up shortly
- .It gives us a strong buy signal.
- Its alternative name is bullish doji or T doji.
- Bullish doji gives us a strong bullish signal
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