What is Doji candlestick | Doji candlestick patterns | dojicandlestick strategy & analysis explained

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From this video you will learn What is Doji candlestick & how it works,what the candlestick patterns are?
Types of Doji candlestick patterns,How to understand a doji candle?
Benefits of doji candlestick, Limitations of Doji candlestick explained for beginners in english.

Doji – candlestick:
A Doji – candlestick chart pattern is a formation that occurs when a market’s open price and close price are almost exactly the same. It has got its name from its unique formation, which denotes indecision.

Types of Doji candlestick patterns
1. Standard Doji pattern or Star doji
2. Long legged Doji
3. Gravestone doji
4. Dragonfly doji
5. 4 Price doji

Benefits of doji candlestick:
- It is quite simple and can be understood without any special knowledge.
- It can be found in any time frame and for any asset.
- Although the candlestick does not provide accurate trend reversal or continuation signals, it may be an alarm when the market is ready to turn around.

Limitations of Doji candlestick:
- A doji does not occur frequently and is therefore not reliable or a trustworthy indicator on its own. They are only reliable if there is confirmation from other technical tools.
- It does not always symbolize an extended trend reversal.
- Some traders struggle to differentiate between a Doji candlestick and spinning top.
- As candlesticks do not necessarily make a provision for price targets, making use of a Doji to produce an informed trade will not guarantee any estimation on the possible gains that can be earned in the trade.
Doji and spinning top:
There is another indecisive candlestick – a spinning top candlestick. Although the pattern looks similar, there is a tiny difference. The spinning top candle has a bigger body.

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