That is why you must understand the differences and interpret the differences of these formations to minimize risks and earn a consistent profit. In fact, Doji can also be used to indicate the slowing momentum of an existing trend. ![]() Still, not all of these Doji variations are used the same way. There are plenty of Doji patterns, including dragonfly Doji, gravestone Doji, and long-legged Doji.ĭoji candlestick is mainly used to indicate indecision since the high, low, open, and close in which these four prices are the same. ![]() This candlestick chart pattern forms specifically when a market’s close and open prices are almost the same. ![]() The Doji candle, referred to as the Doji star, signifies the indecision between the bulls and bears of the financial or crypto market.
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