Long-Legged Doji - Reversal Candlestick Pattern

Overview

Long-legged doji is a candle with a long upper and lower shadows and a small real body. Another name for the long-legged doji is the rickshaw man. The long upper and lower shadow is a sign that the market is confused and approaching a transition period. The Japanese interpret the candle to mean that the trend has "lost its sense of direction". Traders should wait for the high of the candle to be exceeded prior to taking a long position and the low to be violated before initiating any shorts. The key to success when this candle, is your ability to assess the strength or weakness of the current trend.

Long-Legged Doji CandlestickLong-Legged Doji Candlestick

Long-Legged Doji Chart Example

Long-Legged Doji Chart ExampleLong-Legged Doji Chart Example


Tim Ord
Ord Oracle

Tim Ord is a technical analyst and expert in the theories of chart analysis using price, volume, and a host of proprietary indicators as a guide...

Tradingsim.com
Day Trading Simulator

Tradingsim.com provides the ability to simulate day trading 24 hours a day from anywhere in the world. TradingSim provides tick by tick data for...

Send this article to a friend.

Enter multiple addresses on separate lines or separate them with commas.