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Doji Candlestick Patterns - YouTube
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welcome to binary options 107 doji
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candlesticks this is the seventh video
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in our binary options 100 training
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course and the course is brought to you
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by binary options net dot au in binary
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options 106 the previous video we looked
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at pin bars and how they can signal a
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reversal in the markets we're now going
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to look at doji candles and how they can
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also signal a reversal in the market so
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what does a doji candle look like well
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it generally has an upper and lower wick
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but the main characteristic of a doji
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candlestick is the body is a single line
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so the opening and closing price of the
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candle is the same or very similar so we
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get this line appear on the Cal stick
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obviously price moved during the
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duration of the candle for the opening
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closing price were the same or very
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similar no doji candlesticks come in a
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variety and fall under the category of
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one of these three a gravestone doji
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where the body is at the lower end of
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the candle dragonfly doji where the body
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is at the upper end of the candle and
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then a long leg doji where the body is
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central to the candle so why do these
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candles signal a reversal in the market
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well if you can imagine price is moving
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heavily on the upside we're creating a
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number of bullish candles and then we
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get a doji up here
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the doji can tell us that the buying
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power has become exhausted the buyers
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have rushed price continually on the
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upside and then they can't push it any
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further price finished at the same level
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that it started so the buying power
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could be exhausted
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notice Li the same could happen on the
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downside of price is coming heavily on
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the downside and then we get a doji up
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here that can act as a signal that the
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selling power has become exhausted in
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its time to go in the opposite direction
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I've also included a spinning top in
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this video I think this is a good time
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to cover spinning top
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these can signal reversals also just
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like doji's and pin bars and the
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spinning top
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is it a candle with a small body and an
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evenly balanced upper and lower wick
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spinning tops can signal indecision in
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the market price has neither got
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significantly higher or lower and
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there's a balanced amount of power
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between the Bulls and the Bears so once
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again getting getting a spinning top at
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the top of a push or at the bottom or
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they push on the downside can signal a
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reversal so let's look at some examples
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of these doji candles and spinning tops
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this is the euro euro USD one-hour chart
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I'll be looking at this price data down
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here you'll notice we have a pin bar
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here and we'll adapt it in bars on our
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last video which can signal a reversal
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is also a pin bar here price comes up we
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have a pin bar and price thing goes on
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the downside
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but let's look at some doji candles
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surprise is coming down we have six
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bearish candles in a row and Christ is
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moving quite heavily on the downside we
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then give this doji up here a gravestone
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doji and you notice as soon as the doji
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appears price goes on the upside we
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didn't have with other pushdown we have
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a dragonfly doji appear and then price
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goes on the upside we have with other
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doji here and pricing falls on the
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downside after this big push on the
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downside we have a spinning top small
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body we have an even wick either side
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and price goes on the upside so that is
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a few very simple examples of doji's and
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spinning tops as always please check out
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our website binary options net dot a you
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and continue with this course to learn
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more about technical analysis and binary
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options trading
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