Long-legged doji is a candle with long upper and lower shadows and a small real body. The pattern shows that there is an indecision between the buyers and the sellers, and that the market is approaching transition period.
Long positions can be taken in case of Bullish Long Legged Doji, once high of the candle is exceeded.
Shorts can be initiated once the low of...
EURUSD closed the weekly candle with a long legged Doji outside the bollinger band.
Not to mention the massive support zone we have around 1.0510.
This could activate a rocket correction from the last 14 days of downtrend.
Another interesting thing is the movement from November 2015.
After weeks of downtrend the price turned in the last November week at 1.0510...
I took almost the high of this potential long legged doji with a Shark113 short @ 2.1000. I consider this level as the higher zone of the PRZ of the bearish crab. I will post another logchart with all my trades within this PRZ of the bear crab.
Thus far, each level of the PRZ has tested:
- XA 1.618% extension / BC 2.618 extension