Technical Analysis of Doji Candlestick Pattern

Technical Analysis of Doji Candlestick Pattern - All doji candles setup show indecision in the market this is because at the top of bulls were in control, at the bottom the sellers were in control but none of them could gain control & at the close of the market the price closed unchanged at the same price as the opening price.

This doji candle-stick pattern displays that the overall price movement for that day was zero pips or just a min range of 1 to 3 pips. Reading these candlesticks patterns require very small pip movement between the opening price and closing price.

What Does Doji Candlestick Mean? Doji Candle Definition

Doji is a candlestick pattern with the same opening and closing price. There are various types of doji candlestick patterns that form on charts.

A doji candlestick is where price on a chart for a specific time period closes almost at the same price. Doji candlesticks look like a cross, inverted cross or a + math sign.

following example show various patterns of the doji candle:

Long-legged doji candlestick has long upper and lower shadows with opening & closing price at the middle. When Long-legged doji appears on a chart it indicates indecision between the traders, the buyer and the sellers.

Below is an example image of Long Legged

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Technical Analysis of Doji Candle Pattern

Cross doji candle pattern has a long lower shadow and a short upper shadow and the open and close of the day is the same.

This candlestick pattern appears at market turning points & warns of a possible trend reversal in the trading market. Shown Below is as example of this Cross doji candlestick formation

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