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Doji

Posted in Bearish reversals, and Bullish reversals

It is a Japanese candlestick pattern having a smaller body than wicks or shadows.  It looks like a cross, inverted cross or a plus sign. The word doji refers to both the singular and plural form.

A doji reflects hesitation on the market. Prices move above and below the opening level during the session, but close at or near the opening level ending in a standoff. Neither bulls nor bears were able to surmount.Candlestick pattern - dojiIt doesn’t mean a change in the prevailing trend in itself, alone, it is a neutral pattern but many times it is featured in a number of important patterns like:  evening doji star, bullish doji star, morning doji star, bearish doji star.

Much more powerful versions of the pattern are the long-legged doji, the gravestone and the dragonfly doji.

Similar patterns: