• Direction: Bullish
• Type: Reversal
• Reliability: Moderate
• After an established downtrend
• There dojis (open and close at identical price) occur on consecutive trading days
In a long bearish market the strength of trend shows weakness as candle bodies grow progressively smaller, eventually forming three consecutive dojis.
A doji candle reveals market indecision, since neither buyers nor sellers prove able to move the close price away from the open. This kind of price action is quite common during periods with limited market activity like holidays. But after a protracted downtrend or during periods of high trading volume a number of dojis can suggest a reversal in market trend.
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