What is Doji Candles in Gold Trading?
What Does Doji Candle Mean? - Doji Candle Definition
Doji is a candle pattern with same opening & closing price. There are various types of doji candlestick patterns which form on charts.
A doji candlestick is where xauusd price on a chart for a given time period closes almost at the same xauusd price. Doji candlesticks look like a cross, inverted cross or a + math sign.
following examples explain different patterns of the doji candle:
Long-legged doji candlestick has long upper and lower shadows with the opening and closing xauusd price at the mid. When the Long-legged doji appears on a chart it demonstrates indecision between the xauusd traders, buyer and the sellers.
Below is example screen-shot image screenshot of the Long Legged
What is Doji Candles in Gold Trading? -Analysis of Doji Candle Pattern
Cross Doji Gold Candle-stick
Cross doji candle pattern has a long lower shadow & a short upper shadow & the open and close of the day is the same.
This gold candlestick pattern setup pops up at market turning points and warns of a possible trend reversal in the market. Below is as example of this Cross doji candlestick formation
Cross Doji Candle Pattern - Analysis of Doji Candle Pattern
Inverted Cross Doji Candlestick Pattern
Inverted cross doji candlestick pattern - candlesticks have a long upper shadow and a short lower shadow & the open & close is the same.
This reversal doji candlestick set-up appears at market turning points & warns of a possible trend reversal in the market. Below is an example of this reversal doji candlestick pattern
Inverted Cross doji Candlestick Pattern - Analysis of Doji Candle Pattern
Analysis of Doji Candle Pattern - All doji candlesticks pattern explain indecision in the Gold market this is because at the top 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 xauusd market the xauusd price closed unchanged at the same xauusd price as the opening xauusd price.
This doji candle stick pattern highlights that the overall xauusd price movement for that trading day was 0 pips or just a minimum price range of 1 to 3 pips. Reading these candlesticks patterns need very small pip movement between the opening price & closing xauusd price.
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