Mr Doji
One of the most reliable candle in candlestick pattern is none other than mr doji …
All the above candles are doji. The far left doji is a very nice doji as the body and the shadow is just nice. Basically a doji tell us that the people who are trading or investing the stock do not know which direction to go. That is the reason the candle showing no particular up or down trend. This is a very good indication that the stock will have a pause as the bull and the bear has to fight it out to see who is the ultimate winner.
Usually the next candle will be the deciding factor on who is the ultimate winner. Thus the doji give me a signal to watch the stock. If the bear win the battle i will stick to the bear and if the bull win the battle then i will stick to the bull.
It is very truth about an old trading wisdom… Professional always waiting at the sideline to slaughter the newbies. Professional will let the newbies to kill one another in the market while watching at the sideline. Eventually there will always be a winner and the professional will act upon it and prey to loser which is the majority of the market people who make up of the newbies.
Once again patience is the key and wait for the next candle to go for the glory.
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