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LBRY Claims • dragonfly-doji-gravestone-doji

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19 Aug 2021 10:44:59 UTC
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Dragonfly Doji & Gravestone Doji Candlestick Patterns For Stock Trading
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Dragonfly Doji & Gravestone Doji Candlestick Patterns For Technical Analysis

Now let’s take a look at the Dragonfly doji and the Gravestone Doji.
These both have the same opening and closing price, similar to normal dojis, but instead of forming a plus sign, these have long tails that forms a T or upside down T.

First, let’s look at the dragonfly doji, which is considered to be a bullish doji. The dragonfly doji is when the open, the close, and the high of the day are all the same price. This creates a long lower wick with a short horizontal line at the top, which forms a “T” shape.

This shows that the stock fell during the day, but buyers drove the stock back up by the market close. The bears were able to take the price down, but the bulls were strong enough to bring the price back to the opening price.

This is a potential reversal signal for the current stock trend, but other candlesticks are required to confirm. The longer the lower tail of the dragonfly doji, the more bullish the pattern indicates.The low of the dragonfly tail can be considered a new support as buyers came in strong at that level.

The gravestone doji is when buyers drive the price up during the day, but sellers are still prevalent and drive the price back down to the opening price, before the market closes. The open, close and low of the day all end up being the same price. This forms a upside down “T”, and could signal a trend reversal. The bulls were able to push the price higher, but eventually failed and the bears bring the price back down to the opening pricing, which is also the low of the day.

This is a bearish reversal signal, which shows that bears are clearly in control. The longer the upper shadow on the gravestone doji, the more bearish the signal. Other candlesticks are required to confirm the reversal.
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Video Topics:

Dragonfly Doji
Gravestone Doji
Dragonfly Doji Candlestick Pattern
Gravestone Doji Candlestick Pattern
gravestone doji candlestick meaning
Doji
Doji Candlestick
Technical Analysis


#stocktrading #candlestickpatterns #technicalanalysis
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https://www.youtube.com/watch?v=QVPNiqH78fU
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