Doji indicator forex yang

There will be times when you have to make a judgment on whether the risk is too excessive by the distance of the proposed entry and the stop-close-only. This is the pattern I call the high close doji HCD method. It has dimensions of specific criteria that need to fall in place, helping to eliminate and to filter out false signals. It is a simple and basic approach to candlestick chart patterns that is a high-probability winning strategy.

High close doji HCD When the market is in an extended trend to the downside and the market condition is oversold, a doji appears, indicating indecision and weakness of sellers to maintain the downward trend. We use charts and graphs to plot the happenings of the market in a picture so that things become clear to us. Therefore understanding the Japanese candlestick chart technique is extremely helpful for all kinds of trading activities including trading Forex, Stocks, ETFs, Options, Futures, and Cryptocurrency.

In , a futures market for rice trading emerged in Japan and secondary coupon markets thrived in the Japanese cities of Sakata and Osaka. According to some historians, Munehisa spotted the opportunity and established a personal network of men about every 6 kilometers between Sakata and Osaka to communicate the market prices of rice. It is considered as the first book written on the face of the earth which combines human psychology in the workings of the market.

He also mentioned the cycle of Yang a bull market , and Yin a bear market and wrote that within each type of market is an instance of the other type. He also appears to have combined weather and market volume as well as price in adopting a particular trading position. Basic Candlestick Chart Patterns Like any trend analysis, the Japanese candlestick charting technique also has a pattern that is known in the forex circle as the basic candlestick chart pattern.

The names of those patterns are spinning top, marubozu, and Doji. These are described in detail below: Spinning Tops Candlestick Pattern Spinning tops come with body types that are different from ordinary Japanese Candlestick bodies. In spinning tops, the bodies are wide in length and small in height. Here the color of the body is not important. The smaller body whether hollow or filled indicates little change from open to close, and the shadows indicate that both buyers and sellers were fighting and nobody was gaining the upper hand and the result was a standoff.

If spinning tops appear during an uptrend then it means there are not many buyers left and a potential change in direction may be in the offing; If spinning tops appear during a downtrend then it means there are not many sellers left and a potential change in direction may be coming. Marubozu Candlestick Pattern The above graph shows two types of Marubozus. Marubozu looks the same from open to close. A white marubozu has a long body with no shadows or wick. The opening price in the marubozu is also the lowest price while the closing price is the highest price.

In other words, the candle opens at its lowest price and closes at its highest price. A white marubozu signals that buyers were in control of the entire trading session. It usually becomes the first part of bullish momentum. A black marubozu on the other hand has a long black color-filled body with no shadows or wick. The opening price in the marubozu is also the highest price while the closing price is the lowest price.

In other words, the candle opens at its highest price and closes at its lowest price. It usually becomes the first part of bearish momentum. Depending on its location and color, here are four important points that should be considered: If a White Marubozu appears at the end of an uptrend, a continuation is in the offing; If a White Marubozu appears at the end of a downtrend, a reversal is in the offing; If a Black Marubozu appears at the end of a downtrend, a continuation is in the offing; If a Black Marubozu appears at the end of an uptrend, a reversal is in the offing.

Doji Candlestick Pattern Doji candlesticks are a thing apart from the two mentioned above. Its uniqueness is that it is extremely thin like a straight line. Due to the nature of their formation, Doji candlesticks have the same opening and closing price. Prices of currency pairs fluctuate above and below the opening prices during the trading session but end up in the session very near the opening price or rate.

The ultimate result of Doji candlesticks means neither buyers nor sellers are able to gain control and a struggle is ongoing between them. The result sums up being a draw. There are four basic types of Doji candlesticks. The height of the upper shadows can vary and the resulting Doji candlestick looks like a cross, an inverted cross, or a plus sign. Doji candlesticks by nature make you pay close attention to the preceding candlestick.

If a Doji forms after multiple candlesticks with long hollow bodies, the Doji is trying to tell that the buyers are becoming exhausted and losing ground. Sellers are looking to come in and push the price back down. If a Doji forms after multiple candlesticks with long-filled bodies, the Doji is trying to tell that the sellers are becoming exhausted and losing ground. Buyers are looking to get cheap. Single Candlestick Chart Patterns We have just gone through basic candlestick chart patterns like spinning tops, marubozus, and dojis.

Now we will be looking into single candlestick chart patterns. These types of candlesticks appear suddenly on a trend line. They hint at potential reversals in trend. Hammer and Hanging Man The hammer and hanging man look like twins but have exactly opposite meanings depending on the price action of the currency pair. Both look like a hammer, one is white and another one is filled in black. Another commonality is that both have long lower shadows and tiny or missing upper shadows.

A hammer is a bullish reversal pattern that is formed during a downtrend. Hammer is so-named because of its location at the bottom of the downtrend, making it look like the market is hammering out and looking for a climb. In this situation, when the prices are going down then the hammer hints that the bottom will be reached shortly and prices will pick up again.

It signals another interesting fact that the long lower tail of the hammer indicates that sellers pushed the prices down, but buyers are resisting and are able to sail through and close near the opening price. Just because a hammer appears in a downtrend does not mean that we should jump into a buying spree.

More confirmation for the bullish trend is needed for taking decisions. The best confirmation comes through the one that forms on the right side of the hammer. There are four criteria through which a hammer can be recognized and those are: The long tail is around two or more times of the hammer body; Tiny to no upper shadow; The hammer body must be at the upper end of the trading range; The color of the body has no significance.

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