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🚨HIGH ALERT CANDLESTICK PATTERN🚨
🏹a single candle change the whole market
doji candlesticks represent indecision between buyers and sellers in a particular trading period. They occur when the opening and closing prices are almost identical, forming a small or nonexistent body on the candlestick chart.
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🎯Here's how doji work:🎯
Types of Doji: Depending on the relative lengths of the upper and lower wicks (shadows) of the doji, there are several variations:
🚀Gravestone Doji: 📈
Short body near the bottom with long upper wick, suggesting selling pressure that couldn't push the price lower.
🎯Dragonfly Doji: 🎲
Short body near the top with long lower wick, suggesting buying pressure that couldn't push the price higher.
🎯Long-Legged Doji: 🃏
Short body with wicks of equal length on both sides, signifying strong buying and selling forces cancelling each other out.
🎯Interpretation: A single doji doesn't provide strong direction. However, they can hint at potential reversals or continuations:
🎯In an uptrend:🀄
A doji might indicate weakening bullish momentum, possibly leading to a pullback or even a reversal.
🎯In a downtrend: 🎲
A doji might point to exhaustion of selling pressure, potentially signalling a bounce or a trend reversal.
🎯During consolidation:🥌
A doji implies indecision, suggesting the price might hold its range or break out in either direction.
🔔Important Points:🔔
📈Doji are neutral indicators $ETH
