What is a gravestone doji Candlestick?

One of these patterns is the Gravestone Doji candlestick, which can be observed quite often on the candlestick chart. A Gravestone Doji is a bearish candlestick pattern with a very short or preferably invisible body and a long upper shadow. Ideally, the open, low, and close prices should be relatively at the same level.

Is a gravestone doji a reversal?

The Gravestone Doji is a bearish pattern that can indicate a reversal of a price uptrend and the start of a downtrend. On the other hand, the Dragonfly Doji is a bullish pattern that can indicate an uptrend will occur. Can a Gravestone Doji be bullish?

What are doji candles?

The Doji candles are a particular form of candlestick pattern shown on a trading chart that indicates the market is somewhat undecided. Candlesticks always show the same four pieces of information. They display the highest and lowest price for the trading session, indicated by the thin “wicks” at the candlestick’s top and bottom.

What does the gravestone doji look like?

The reverse of the Gravestone Doji is the bullish Dragonfly Doji. It looks like an upside-down version of the Gravestone and it can signal a coming uptrend. Although the Gravestone Doji can indicate the coming of a bearish price change, traders should not rely on this indicator alone: