6 Awesome Doji Candlestick Patterns (EXPLOSIVE PROFITS)

BONUS DOJI #6: Four Price Doji

I was deciding whether I should include this doji in this article or not simply because it is totally useless in the highly liquid forex market.

You may see this four price doji in the stock(share) market but in forex, I have personally never come across any.

So in my opinion, you are not going to need it, but for the sake of learning something new, I have to include it anyway.

This is what a four price doji looks like:

four price doji

The four price doji simple means there was ZERO movement for that time period where that candlestick formed.
This means open price=closing price=low price=high price.
This results in:
  • no candlestick body length
  • there are no upper and lower wick on the four price doji
So what does it mean if you ever happen to see a four price doji in forex?
Well, should  a situation like that happen, then it would mean that there’s a complete lack of indecision or zero trading activity at all.

SUMMARY: TRADING THE DOJI

Here is a chart showing these 6 doji patterns that you have covered so far in this article:

Doji

In my opinion, location or price level where a doji candlestick patterns forms is very important if you are going to trade doji patterns.

Doji’s can form anywhere on your forex charts you are looking at but that does not mean anything until a doji candlestick pattern forms on important levels like:

  • support levels
  • resistance levesl
  • fib retracement levels
  • trendlines etc

I sit up and take notice when I see doji patterns form on these important levels.  Any other level, I completely ignore. That is how I trade doji patterns.

How To Trade Doji Patterns

There are forex trading strategies on this site where you can use doji as buy or sell signals with other reversal candlesticks.

Look at your forex trading system, can you incorporate what you learnt here with doji patterns into your trading? Like a buy and sell trigger/signal?

You can even use this knowledge in the free forex trading signals service I provide.

You see, you  just have to learn to think outside the box a little bit with such things.

I hope you learnt something in this article on doji candlestick patterns and if you did, please don’t forget to share, tweet etc.

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