What is Doji Candles in Forex? - What is Doji Candles Pattern in Forex?
What Does a Doji Candlestick Mean? - Doji Candlestick Definition
Doji is a candle-stick pattern with same opening and closing price. There are various types of doji patterns that form on charts.
A doji candle-stick is where price of a currency pair for a particular time period closes almost at the same price. Doji candles look like a cross, inverted cross or a + math sign.
The following example explain various patterns of the doji candle:
Long-legged doji candlestick has long upper and lower shadows with opening and closing price at the middle. When the Long-legged doji pops up on a Forex chart it indicates indecision between currency traders, buyer & the sellers.
Shown Below is an example screen shot image of the Long Legged
What's Doji Candles in Forex? -Technical Analysis of Doji Candle Pattern
Cross Doji FX Trading Candlestick - Analysis of Doji Candlestick Pattern
Cross doji candlestick pattern has a long lower shadow & a short upper shadow & the open & close of the day is the same.
This candle-stick 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 - Technical Analysis of Doji Candlestick Pattern
Inverted Cross Doji Candlestick Pattern - Analysis of Doji Candle Pattern
Inverted cross doji candlestick pattern - candles have a long upper shadow and a short lower shadow & the open & close is the same.
This reversal doji candlestick pattern appears at market turning points & warns of a possible trend reversal in Forex. Below is an example of this reversal doji candle pattern
Inverted Cross doji Candlestick Pattern - Technical Analysis of Doji Candlestick Pattern
Analysis of Doji Candlestick Pattern - All doji candlesticks pattern explain indecision in 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 & at the close of the market the currency price closed unchanged at the same price as the opening price.
This doji candlestick pattern shows that the 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 and closing price.
