Characteristics of a Powerful Doji Candle

Doji candlestick is one of the most common types of candlesticks on a trading chart. Doji itself will describe a hesitation in the market that will serve as a reversal signal that is up or down.

Doji is unique patterns in candlestick charts, a common chart type for trading. It is characterized by having a small length, which indicates a small trading range. Its small length means that the opening and opening prices of the traded financial asset are the same or have a small difference. Doji candlesticks can be in the form of a plus sign, a cross, or an inverted cross.

Doji is used to depict market indecision and serve as signals for reversals in an up or down trending market.

Dragonfly Doji

The dragonfly doji pattern will be formed when there is price turbulence between bullish and bearish traders. It is quite difficult to develop a trading strategy when in the dragonfly pattern because this pattern also very rarely appears on the asset price movement chart. So it is important to watch carefully for signs such as a bullish uptrend which is a strong sign that prices may continue to rise, or a bearish downtrend which is a signal that a price reversal is likely to occur, and sideways movements when the market is consolidating.

Gravestone Doji

The Gravestone doji is a bearish reversal candlestick pattern that forms when the open, low, and close prices are close to each other with a long upper shadow pattern.

The long upper shadow pattern indicates that the bullish gains earlier in the session have been offset by the late-session declines, which often occur just before a long-term bearish downtrend.

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