stephenleachman

DOJI - CANDLE FORMATION (TREND INDECISON, REVERSAL)

FX:GBPNZD   British Pound/New Zealand Dollar
106 0 16
The Doji is a candle formation whose opening and closing price are
virtually the same. Visually, a Doji looks like a cross or plus + sign.
It represents market indecision and suggests a potential for price
reversal.

NOTE:
  • This is only a valid formation when formed at a key level of support or resistance.
    The longer the wicks the better and also the doji is more reliable when closed
    negative in a up trend ( Bearish Reversal) and positive in a down trend. ( Bullish Reversal)

TRIGGER:
  • Bearish reversal - Sell break of dojis bottom wick.
  • Bullish reversal - Buy break of dojis top wick.
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