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Importance of Doji in stock trading

Posted By On 7/19/2008 08:27:00 PM Under

1. Doji is an important candle stick charting pattern and as a stock trader one should never ignore the same.

2. Doji probability increases further when this doji is seen in an over-bought or oversold conditions.

3. One can determine the over-bought or oversold conditions by seeing the stochastics indicators.

4. Doji implies that an indecision is occuring at an extreme portion of a trend.

5. One must test a doji against following parametres:
(a) Open and close price for the stock is same or nearly same.
(b) Length of shadow be not excessively long and same holds more relevance when viewed at the end of a bullish trend.

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