June 2006
Beginner
352 pages
7h 6m
English
book
Technical Analysis Plain and Simple: Charting the Markets in Your Language, Second Edition
by Michael N. Kahn
Content preview from Technical Analysis Plain and Simple: Charting the Markets in Your Language, Second Edition
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Dojis
Doji lines are important enough to get their own discussion. Basically, dojis reflect indecision, which makes sense because the market closed at its open after trading significantly higher and lower intraday. If you see two or more doji lines within a short time in a market where this normally does not occur, then a strong move is possible. Double dojis may foretell an increase in market volatility and would be of special interest to options traders.
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Dojis reflect indecision. |
Doji days can become support or resistance, usually on a short-term basis. A series of three doji lines after a prolonged move could signal a rare and important top or bottom.
Variations on doji patterns have interesting names like rickshaw man (very long shadows) ...
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