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Doji

by Vivek A. Shah, 3358 days ago
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There is a special candle that has no real body to speak of and is called the doji. The close of this candle is at exactly the same price as the close. Doji formations help confirm reversals. There are different names and nuances associated with certain dojis, such as the gravestone, which, when formed after a major downtrend, signals that the trend is near an end and that slightly lower prices are expected to come. It is similar in appearance to what is called an inverted hammer at market bottoms or a shooting star at the top of a prolonged price advance.

The secret weapon of candlestick charting is knowing the power of what the doji represents. Dojis indicate indecision-the market ends where it began. Confidence is lost from buyers or sellers on the open as the market made a lot of noise as the range was established. In a bullish or bearish trending market, indecision is the last thing you want to see. Strong rejection or failure from the high and/or low is a significant telltale sign that changes are coming.

So Doji gives chance to find out probable tops & bottoms of the market.

It is usually helpful to traders but when applied to the weekly ot monthly charts, investor can find out stocks which help them earn very good returns.




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