Learn to recognize the Doji candlestick pattern to find profitable trading opportunities.
** FREE TRADING STRATEGY GUIDES **
The Ultimate Guide to Price Action Trading: https://www.tradingwithrayner.com/ultimate-guide-price-action-trading/
The Monster Guide to Candlestick Patterns: https://www.tradingwithrayner.com/candlestick-pdf-guide/
** PREMIUM TRAINING **
Pro Traders Edge: https://www.tradingwithrayner.com/pte/
Pullback Stock Trading System: https://pullbackstocktradingsystem.com/
Price Action Trading Secrets: https://priceactiontradingsecrets.com/
The Doji candlestick pattern is when the candle has the same open and closing price. You can see at the open and the close are the same level, so this is why you see a straight line on the chart. And this is the high and the low. So one thing to take note is that a Doji has nobody on the candlestick pattern, right.
Let's look at the three different types of Doji candlestick patterns and how you can trick them and find profitable trading setups, right.
2:00 Doji Candlestick Pattern #1
The first one is what we call the Dragonfly Doji, right. So again, right, the close and the open is the same level, but the difference this time around for Dragonfly Doji is that the candle has a lower wick, right, a lower wick. So this means that you can see the rejection of lower prices.
You can see that this is a Dragonfly Doji, this portion over here shows you rejection of lower prices. You can see that the market opened here. Then it came all the way down, right. And finally, the buyer stepped in and pushed the price back all the way up higher and finally closing at the same price level.
The ultimate way to trick a Dragonfly Doji is when the market is an uptrend, right. Notice that the market is, say, above the 50 period, moving average, for example. And it tends to bounce off it, you know, repeatedly. When the market comes back to this moving average right, this is an area of value. This is where you, potentially, you look for buy opportunity, right.
7:00 Doji Candlestick Pattern #2
The next Doji candlestick pattern I want to talk about is the Gravestone Doji, alright. The candle has the, again right, same open and same close but this time around it has a long upper wick. So this means, right, that there is a rejection of higher prices. The market has rejected higher prices. And it looks something like this.
So we can see that the Gravestone Doji serves as an entry trigger, right, and depending on your goals on that trade right. Whether you want to capture a swing, or capture a trend, right, you can use the appropriate trade management or trading stop loss technique.
9:45 Doji Candlestick Pattern #3
The third one I want to talk about is the Long-legged Doji, right. So, it looks like a normal, standard, Doji, right. Open, close, same level. But this time around, the upper and lower wick is very long, right, and they are very long. So this means that there is strong indecision in the market. And it looks something like this. It's like a regular Doji, but this time round, right, the highs and lows of the candle is very long, okay. So this means that there is strong indecision in the market.
Usually, the first retest, right, especially if the move comes in very nice and strong, right. The level usually would hole in and reverse the hole. But if the market comes back to the level repeatedly, over a short period, there's a good chance that it could break up and you want to be trading the breakup of the heist.
** FREE TRADING STRATEGY GUIDES **
The Ultimate Guide to Price Action Trading: https://www.tradingwithrayner.com/ultimate-guide-price-action-trading/
The Monster Guide to Candlestick Patterns: https://www.tradingwithrayner.com/candlestick-pdf-guide/
** PREMIUM TRAINING **
Pro Traders Edge: https://www.tradingwithrayner.com/pte/
Pullback Stock Trading System: https://pullbackstocktradingsystem.com/
Price Action Trading Secrets: https://priceactiontradingsecrets.com/
If you have any questions for me, leave it in the comment section below, alright. I'll respond to you and if you enjoyed this video, hit the thumbs up button, right and subscribe to my channel for more videos to come, right. So with that said, I wish you good luck and good trading.
Thanks for watching!
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If you want to level-up your trading, then check out Pro Traders Edge: https://www.tradingwithrayner.com/pte/

By Stock Chat

where the coffee is hot and so is the chat

27 thoughts on “3 powerful doji candlestick patterns for profitable trading”
  1. Avataaar/Circle Created with python_avatars Blessing Aninwokolo says:

    Thank you for Rayner

  2. Avataaar/Circle Created with python_avatars nicacio gilson says:

    Excellent

  3. Avataaar/Circle Created with python_avatars BABIE AND BIKS says:

    Is it only me who love trading but will never understand its language๐Ÿ˜ข๐Ÿ˜…

  4. Avataaar/Circle Created with python_avatars Ayrat Bulatov says:

    Hey Rayner! Thanks for a great video. Just been looking for a simple explanation on how to read all kind of doji patterns in general, because lately we've got a rare pattern of tripple weekly doji on bitcoin developed. Could you please comment on the pattern of dojis delevoped on bitcoin, how to interpret them in context of trend change and possible retest, key levels to watch and the meaning of flat tristar pattern in general. Thank you.

  5. Avataaar/Circle Created with python_avatars Sammy Omoto says:

    It's only now that I am realising how far I've come in my trading journey, I thank God for all. I've been on it for a year now. I remember reading about this as a novice, not even knowing for sure what exactly I was doing to begin with๐Ÿ˜‚. Today, I'm here to know if I can use a bullish doji the same way as a bullish hammer. What is the difference in what they symbolise.

  6. Avataaar/Circle Created with python_avatars lewiz says:

    can this also work for crypto trader

  7. Avataaar/Circle Created with python_avatars chas snowden says:

    You are very informative. Thanks.

  8. Avataaar/Circle Created with python_avatars joaocarimo says:

    @Rayner Teo I need your help as I'm still loosing money

  9. Avataaar/Circle Created with python_avatars Iam Thato Mofokeng says:

    help me trade forex Rayner Teo ..I am in Botswana

  10. Avataaar/Circle Created with python_avatars SALEH A UMARU says:

    We have been appreciating

  11. Avataaar/Circle Created with python_avatars Levonte93 says:

    Fast talking dude

  12. Avataaar/Circle Created with python_avatars Ray mc George RAY MC says:

    Good video you the best

  13. Avataaar/Circle Created with python_avatars Charles Flager says:

    Love the lesson Rayner. ๐Ÿ‘๐Ÿพ
    New to trading. Your information is helping me a lot.๐Ÿ˜Š

  14. Avataaar/Circle Created with python_avatars edzeani king says:

    very educative๐Ÿฅฐ๐Ÿฅฐ๐Ÿฅฐ

  15. Avataaar/Circle Created with python_avatars Boukman Zoo says:

    These simple concepts are what make a huge difference. Ty

  16. Avataaar/Circle Created with python_avatars Quentin Taylor jr says:

    Thanks Rayner! You're a great teacher.

  17. Avataaar/Circle Created with python_avatars Paul Guidotti says:

    Thanks alots for ur explanation

  18. Avataaar/Circle Created with python_avatars D B says:

    I love watching you're trading videos wish I had seen them sooner. You're a heck of a teacher and very easy to follow. Do you have any trading videos on (volume profile) trading? That explains how volume profile works.

  19. Avataaar/Circle Created with python_avatars Sigurd Werdammen says:

    Hey hey hey Doji Daily at AMC

  20. Avataaar/Circle Created with python_avatars FRANSHEL'S VLOG says:

    Thanks for sharing sir , I did best trade by this knowledge โค๏ธ

  21. Avataaar/Circle Created with python_avatars Jai Shree Ram says:

    ๐Ÿ‘

  22. Avataaar/Circle Created with python_avatars Abraham Anthony says:

    What does it indicate if we have the gravestone doji on a downtrend?

  23. Avataaar/Circle Created with python_avatars Lucyline Mwendwa says:

    Thanks alot for your teaching you make trading easier if we keep on following your steps

  24. Avataaar/Circle Created with python_avatars Jivansh Joy says:

    Your video has a problem the translation comes on the chat can't understand anything

  25. Avataaar/Circle Created with python_avatars Kevin Handyman Haigh says:

    can i buy these books or are they only available by way e mail coupled with thousands of unwanted news letters that also come in e mail form

  26. Avataaar/Circle Created with python_avatars Domnic Opiyo says:

    Hey hey wussup my friend ๐Ÿ˜€๐Ÿ˜€๐Ÿ˜€ LoL ๐Ÿคฃ๐Ÿคฃ

  27. Avataaar/Circle Created with python_avatars Peter Zajaczkowski says:

    Thank you for your excellent work!

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