Doji forex trading
It is characterized by a small body which means the opening and closing price are virtually equal. The lack of a real body conveys a sense of indecision between buyers and sellers and the balance of power may be shifting. A Doji is not as significant if the market is not clearly trending, as non-trending markets are inherently indicative of indecision. However, Doji are trend reversal indicators if they appear after an upward or downward trend.
There are 4 common types of Doji. Intra-day Doji Formations The first doji outlined on Chart 1 in the previous section was a high-low doji, where prices made the highs for the day first, and the lows for the day second. Doji After a Downtrend The intra-day chart minute of this occurrence is given in Chart 2 below: Chart 2 In Chart 2 above doji A , at the opening, the bulls were in charge.
However, the morning rally did not last long before the bears took over. From mid-morning until late-afternoon, General Electric sold off, but by the end of the day, bulls pushed GE back to the opening price of the day. Unfortunately for the bulls, by noon bears took over and pushed GE lower. The doji formation can be created two different ways, but the interpretation of the doji remains the same: the doji pattern is a sign of indecision, neither bulls nor bears can successfully take over.
Other Doji Variations There are two important variations of the doji formation: Dragonfly Doji — A bullish reversal pattern that occurs at the bottom of downtrends. Gravestone Doji — A bearish reversal occurring at the top of uptrends. Where Can I Trade? Start your research with reviews of these regulated brokers available in , many have free demo accounts so you can preview their technical analysis features.
Loading table CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you can afford to take the high risk of losing your money. FAQs Here are some answers to common questions about doji candlesticks. Is a doji bullish or bearish? A doji is neither bearish nor bullish, but instead indicates that the market is evenly divided or indecisive.
It can happen after a bullish run, indicating the bears are fighting back — or vice versa. More definitive doji patterns are called Gravestone doji bearish reversal or a Dragonfly doji bullish reversal What happens after a doji candle?
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