What's Doji Candles in Forex? - What is Doji Candles Pattern in Forex?
What Does Doji Candle Mean? - Doji Candle stick Definition
Doji is a candle pattern with the same opening and closing price. There are various types of doji patterns that form on charts.
A doji candlestick is where price of a currency pair for a specific trading time period closes almost at same price. Doji candlesticks look like a cross, inverted cross or a + math sign.
following examples explain various patterns of the doji candle-stick:
Long-legged doji candle has long upper and lower shadows with opening & closing price at the middle. When Long-legged doji appears on a Forex chart it indicates indecision between currency traders, buyer & the sellers.
Shown Below is example screen shot image of the Long Legged
What is Doji Candles in Forex? -Technical Analysis of Doji Candle Pattern
Cross Doji FX Trading Candlestick - Analysis of Doji Candle Pattern
Cross doji candle pattern has a long lower shadow & a short upper shadow & open & close of the day is same.
This forex candlestick pattern pops up at market turning points & warns of a possible forex trend reversal in the Forex. Below is as example of this Cross doji candlestick formation
Cross Doji Candlestick Pattern - Analysis of Doji Candle Pattern
Inverted Cross Doji Candle Pattern - Analysis of Doji Candle Pattern
Inverted cross doji candle pattern - candlesticks have a long upper shadow & a short lower shadow and the open & close is the same.
This reversal doji candle pattern appears at market turning points & warns of a possible trend reversal in Forex. Below is an example of this reversal doji candle stick pattern
Inverted Cross doji Candlestick Pattern - Analysis of Doji Candle Pattern
Analysis of Doji Candle Pattern - All doji candlesticks pattern explain indecision in the forex market this is because at the top of the buyers were in control, at the bottom the sellers were in control but none of them could gain control and at the close of the market the currency price closed unchanged at the same price as the opening price.
This doji candle stick pattern shows that overall price movement for that day was zero pips or just a minimum range of 1-3 pips. Reading these candlesticks patterns need very small pip movement between the opening price & closing price.
