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Doji "blunder" candle
Alright guys, I'm working on an article on profit taking right now because I get asked that question so often.
In order to understand the article you'll need a firm understanding of the "Doji".
This is a chart formation where the opening and closing price of a particular security are the same.
(I'm working on the graphic with the copy, but this will do for understanding)
The doji itself is a fairly rare chart formation.
- 7/10 times when someone points out a doji they're actually pointing out a "spinning top". THEY ARE NOT THE SAME THING. A Doji candle means the opening and closing price are the same. Not close. Close is a spinning top (5% or so body visible).
- 7/10 times when someone points out a doji they're actually pointing out a "spinning top". THEY ARE NOT THE SAME THING. A Doji candle means the opening and closing price are the same. Not close. Close is a spinning top (5% or so body visible).
The psychological difference there is extremely important. This means that me as a bull and the other side as a bear have come to an Agreement on price... FOR AN ENTIRE CANDLE.
The bears are handing me the reins when I see this formation occur. We trended down, agreed on a bottom and then reversed. And the same thing works going up too! When the bulls have had their share eventually selling pressure will equal buying desire and we stall going up.
The doji is telling us it's the other guys turn to eat 🙏
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The Stock Scalpers OP : I'm not a marker artist
Machiavellis3rdEye : That’s really interesting. And I love the idea of “ok, it’s your turn to eat.”
When I start up a crypto (who’s down?)... I’m officially naming it DoJi Coin, and you gonna get some to eat! Thanks for the lesson.
V3nus Machiavellis3rdEye : Doji coin, I like that
毛票实习生 : The doji at the bottom, also known as the opening star
102938103 : thank you. helps a lot.
aoimizu : Thanks for that insight!
GraphitePencil The Stock Scalpers OP : No shit..