This Long-Legged Doji is a candlestick that consists of long upper and lower shadows and has approximately the same opening and closing price. The Doji is a Japanese candlestick which has come to be known as the Holy Grail of trading because it exhibits a high degree of predictability. You can expect this trend to go in one direction over a longer period of time. This candlestick is known as a trend follower because it will follow the trend without hesitation, showing the true nature of price movement in the market.In the doji, the opening and closing prices are very close each other. This is an important tool to use when trading in futures, options and stocks. The long-legged doji is a candlestick that consists of long upper and lower shadows and has approximately the same opening and closing price. It is a simple pattern that is easy to recognize, but should not be used without due caution and knowledge. This pattern is best used by experienced traders, but may also be useful to beginners who don't know much about technical analysis.Diagram of long-legged doji: -In the above the left side is showing the Bearish long-legged doji and on the right side it shows the Bullish long-legged doji.These long-legged doji are candlesticks with long upper and lower shadows and have approximately the same opening and closing price. It is a reversal pattern which has a long upper shadow, there is no lower shadow. This reversal chart pattern is used for predicting the risk level of market movement.This long-legged doji candlestick pattern is a powerful reversal pattern that is seen in the charts of many financial institutions. A long-legged doji can signal a trend change, although it can also be seen as an overbought condition.
