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Types of Doji Candlestick Patterns - My Trade Logic

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Types of Doji Candlestick Patterns - My Trade Logic

Is Doji bullish or bearish? Want to know how many types of Doji Candlestick are there? Wait! Assuming you probably read about candlesticks, would you be able to tell us that Doji or not to Doji. See, if you are not aware of what Doji is? Let us tell you that it is a usually observed pattern in a candlestick chart of monetarily exchanged resources. For a Doji to form, a trading day should start and end at a similar price. Indeed, a ton of trading happens during the day, yet no matter what, the security price is right back from where it started towards the beginning of the day. 


Now, if you understood a brief about Doji, should we start discussing its types? Because this is what you need to know. Let’s get started then.


• Standard Doji

The first is the standard Doji. It shows up when the stock did nothing during the day. It might have swung to and fro every so often, yet in general, the security stays unaltered. Assuming this candle comes after a crucial ball run, at that time, it implies that bulls are losing strength. Also, it indicates that stock is simply pulling back. 


• Long Legged Doji 

The long-legged Doji is almost similar to Standard Doji. What differs here is, with the long-legged Doji, the day brings a lot higher swing. The stock can have a great stride or an extensive downfall. Still, it sits idle overall. The long-legged Doji indicates similarly to standard Doji, yet it shows a great battle between bulls and bears.


• Gravestone Doji

The gravestone Doji can be a bearish reversal pattern when it comes after a bull run. Here, the stock opens and begins to energize during the day. At some places, during the day anyways the stocks fall. But before the day is over, it closes at a level. 


• Dragon Fly Doji

So, here comes the final candlestick- Dragonfly Doji. You can make the most of it as a bullish reversal indicator right after the bear run. In the case of Dragonfly, the stock market begins to fall as soon as it opens. It is due to the arrival of buyers and making a purchase that pushes the stocks up. All in all, before the end of the day, the stock closes at a level. It shows that the stock is beginning to reinforce. 



So, these are the types of Doji Candlestick patterns. We hope you understood it in a proper way. To know about its types more clearly, watch the video now! 


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