What is a gravestone doji Candlestick?

The Gravestone Doji candlestick is one of these patterns that frequently appears on the candlestick chart. Gravestone Doji is one of the various Doji formations available. Unlike the Doji star, which denotes market indecision, the gravestone candlestick signals a price reversal.

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 is a gravestone doji & dragonfly doji?

The Gravestone Doji and Dragonfly Doji are two candlestick patterns that are utilized in technical analysis to forecast future price movements. The Gravestone Doji is just a bearish reversal pattern that suggests potential uptrend weakness, whereas the Dragonfly Doji is indeed a bullish reversal pattern that offers potential downtrend strength.

Is gravestone doji a good reversal pattern?

Also, the Gravestone Doji is very similar to the Shooting Star pattern. As both reversal candlesticks appear at the top of uptrends and have longer upper shadows. The main difference is Shooting Star has a visible body whose close price should be ideally below the open. In conclusion, the Gravestone Doji is a great pattern.