Doji's and Shooting Stars

[tridean]

Hello All, I was just wondering if someone could explain to me what a doji and a shooting star would look like. I read it in reference to trend reversals and was mentioned in the same paragraph as double tops and head and shoulders which I do understand,

Cheers

 

[positivecashflow]

Doji:

The Doji is simply a formation in which the open and close are the same.

 

[positivecashflow]

Shooting Star (loose definition):

1. Price gap open to the upside.
2. Small real body formed near the bottom of the price range.
3. The upper shadow at least three times as long as the body.
4. The lower shadow is small or nonexistent.

 

[RichKid]

Still learning about candles but Louise Bedford says that if there's more than one doji next to each other it is of less significance than if the doji was in isolation. Mentioned in her Candlesticks book.

 

[fredk]

good candlestick site you may wanna check out

http://www.litwick.com/glossary.html

 

[RichKid]

good candlestick site you may wanna check out
http://www.litwick.com/glossary.html

Thanks very much Fred, that's a great site for quick reference! Welcome to these forums too, hope you learn some and have fun!

 

[telken]

If you have comsec, they have breif descriptions of candle stick charting and the meanings, in the charting section.

Hope this helps

 

[positivecashflow]

Still learning about candles but Louise Bedford says that if there's more than one doji next to each other it is of less significance than if the doji was in isolation. Mentioned in her Candlesticks book.

Bedford's Candlestick Secrets book is quite good to gain an understanding of charting and patterns in general... though I don't use candlestick patterns purely for determining the market direction...

 

[JetDollars]

IncredibleCharts website provide a lot of info which included candlestick:
http://www.incrediblecharts.com/technical/candlesticks.htm