Doji

Doji
Main article: Candlestick pattern

The doji is a commonly found pattern in a candlestick chart of financially traded assets (stocks, bonds, futures, etc). It is characterized by being small in length—meaning a small trading range—with an opening and closing price that are virtually equal[1].

The doji represents indecision in the market. A doji is not as significant if the market is not clearly trending, as non-trending markets are inherently indicative of indecision. If the doji forms in an uptrend or downtrend, this is normally seen as significant, as it is a signal that the buyers are losing conviction when formed in an uptrend and a signal that sellers are losing conviction if seen in a downtrend.

Types of Doji
Neutral[2] : Dojis form when the opening and closing prices are virtually equal. Alone, dojis are neutral patterns.  
Long-Legged[3] : This doji reflects a great amount of indecision about the future direction of the underlying asset.  
Gravestone[4] : The long upper shadow suggests that the direction of the trend may be nearing a major turning point.  
Dragonfly[5] : The long lower shadow suggests that the direction of the trend may be nearing a major turning point.  

References

  1. ^ Doji - stockcharts.com
  2. ^ Neutral Doji - investopedia.com
  3. ^ Long-Legged Doji - investopedia.com
  4. ^ Gravestone Doji - investopedia.com
  5. ^ Dragonfly Doji - investopedia.com

See also

v · Technical analysis
Concepts
Support and resistance · Trend line · Breakout · Market trend · Dead cat bounce · Elliott wave principle · Fibonacci retracements · Pivot point · Dow Theory
Charts
Patterns
Head and shoulders · Cup and handle · Double top and double bottom · Triple top and triple bottom · Broadening top · Price channels · Wedge pattern · Triangle · Flag and pennant · Island reversal · Gap
Candlestick
Simple
Doji · Hammer · Hanging man  · Inverted hammer · Shooting star  · Marubozu · Spinning top
Complex
Three white soldiers · Three Black Crows · Morning star · Hikkake pattern
Indicators
Average Directional Index (ADX) · Ichimoku Kinkō Hyō · Moving Average Convergence/Divergence (MACD) · Mass Index · Moving average (MA) · Parabolic SAR (SAR) · Smart Money Index (SMI) · Trix · Vortex Indicator (VI) · Know sure thing oscillator (KST)
Relative Strength Index (RSI) · Stochastic oscillator · True Strength Index (TSI) · Williams %R (%R)
Volume
Accumulation/Distribution Index · Money Flow Index (MFI) · On-balance volume (OBV) · Volume Price Trend (VPT) · Force Index (FI) · Negative volume index (NVI) · Ease of movement · Put/call ratio (PCR)
Other

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  • Dragonfly Doji — A type of candlestick pattern that signals indecision among traders. The pattern is formed when the stock s opening and closing prices are equal and occur at the high of the day. The long lower shadow suggests that the forces of supply and demand …   Investment dictionary

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