Sunday, April 12, 2009

What is doji, the name I got?

Well, if you have guessed Doji could be my pen name, you are right! I named myself after the famous Japanes Candlesticks pattern, Doji. Short and sweet, doesnt it? :)

For those who dont know Doji, it is one of the powerfull Japanese Candlesticks reversal patterns, identified by a single candle having nearly same open and close values. The image is an example of doji formed in Nifty on 4th October 2002.
There are few types of Dojis based on where they are formed on the chart, and many other types of candlestick patterns. Read more on the web if you are interested. If you want to master candlestick patterns, read the book Japanese Candlestick Charting Techniques by Steve Nison.

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