How to correctly use Doji candlesticks to spot a reversal? | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Spot Forex vs CFD Forex: Are we really trading Spot? 11 replies

How to use Elliott Wave correctly? 28 replies

Doji on Daily NZDUSD indicates strong sign of reversal 0 replies

How To Correctly Identify The Trend 4 replies

Reversal Candlesticks 2 replies

Attachments: How to correctly use Doji candlesticks to spot a reversal?
Exit Attachments

How to correctly use Doji candlesticks to spot a reversal?

  • #121
  • Jun 16, 2014 7:54am Jun 16, 2014 7:54am
Quoting jamesph61
{quote} Sit back and enjoy Joe …. this thread is pure gold
It is growing more entertaining by the day...no?
Ghost Rider - WWTBMD?
  • #122
  • Edited 8:24am Jun 16, 2014 8:02am | Edited 8:24am
Wow, I love this thread. But it seems played out.

What is a doji? A place of indecision.

Ok Great, so what does it mean? Ummm... a place of indecision you j%ck8ss.

So, how do I trade them? Ummm.. you don't, you need context and a case for entry.

But Magix still s8cks! Yes, I know but how does that help me trade a doji?

It doesn't. Ok Thanks.

But you need to trade order flow. I know but order flow will comply with s/r. You moron, this is about how to trade a doji and how great I am!

Oh sorry.

Isn't this like what you said 6 pages ago? Yes, but we have at least established that I am awesome and Magix s8cks.

Ok thank you.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #123
  • Jun 16, 2014 8:11am Jun 16, 2014 8:11am
I like Magix.... He's a passionate guy who loves this shit.... I mean this game.... I mean this business.... whatever it is...
SPC * Swollen PocketZ Crew!
  • #124
  • Jun 16, 2014 8:17am Jun 16, 2014 8:17am
Just to clarify, I love Magix.

He already knows this, and will likely get my humor. If not, this will clear it up for him.

If interested, I have attached some reading. Basically takes 40 pages to say the same thing. There is more if anyone needs it. I have a book but not sure if that is copyrighted. This is freely available.

Edit: It is Steve Nison on dojis.
Attached File(s)
File Type: pdf slides-1-20.pdf   1.2 MB | 10,706 downloads
File Type: pdf slides-21-40.pdf   1.3 MB | 687 downloads
The world you desire can be won. It exists.. it is real.. it is possible..
  • #125
  • Jun 16, 2014 8:42am Jun 16, 2014 8:42am
Quoting Mr. Scott
{quote} Hi Magix, Would respond to some of your other posts, but I fear I will end up subscribing to the recycle bin. Glad to see you have not changed, thought you were getting soft on me. Another level I like, since it did not come up.... Then again, it is late on Friday night and I don't think I can be held responsible for posting nonsense. {image}
Hi Magix,

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15615.jpg Size: 147 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #126
  • Jun 16, 2014 8:49am Jun 16, 2014 8:49am
Quoting Mr. Scott
{quote} Hi Magix, {image}

Where's the fackwagon Doji, Scott??



Rock on brother!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #127
  • Jun 16, 2014 9:01am Jun 16, 2014 9:01am
Quoting Magix
{quote} The spread of misinformation at any public site, runs rampant...FF is no exception. It is just easier for others to believe that everybody is equally as lost as they are. Bad news will always spread faster than good...it's what we've all grown up with. Like that guy Kuat... Rather than read anything that I've posted here, he just decided to pick a fight, by agreeing with me and my position on using Dojis as a trade methodology...He thought he would bring me down a notch and even provided some stats that he pulled straight out of his ass....
I hear ya brother. Mis "information" is one thing. But proof on the charts WITH detailed explanations?? I don't know, perhaps I'm just old and this is the "new math" or some such thing but, I just don't get it. Not that I have to.
Ghost Rider - WWTBMD?
  • #128
  • Jun 16, 2014 9:09am Jun 16, 2014 9:09am
been waiting for it to go to 3589 min (3589/3672)personally with a close 3601 ish since last week. then close-3502. after making 3494 LL.. that didn't happen. but neither did 3494. i was thing 3589/3672 area would happen twice before real drop. most zoomed in on the 3589/3610 area. it would be better for the -3494 close if the open started above 3601. not many candles lately that large
those who can, do. those who cant, talk about those who can
  • #129
  • Jun 16, 2014 9:25am Jun 16, 2014 9:25am
Quoting Magix
{quote} Look at this guy... {quote} Not hard to figure out why Nubcake holds him in such high regard, as to specify that each of his posts should be taken with a healthy dose of penicillin. Again, another guy who just floats past the charts and empirical proof, only to say, there is no proof... He is regarded as high impact...sadly, the impact he is making, is about as positive as a rear end collision.
i a had guy posting the same thing. then he would show one of his rare charts, with lines on it.
{quote}Quoting 60minuteman
the use of the past to predict future price movements only exists because of humans intense fear of uncertainty and an obsessive need to quantify everything. There's absolutely zero proof of lines on a chart having any edge whatsoever, these lines are ignored as often as they are respected - traders are capable of seeing exactly what they want to see and nothing contrary to it. {quote}
i want to see the research that proves his point.
any way later, i was reading scott and yourself on my list and got caught in the moment
those who can, do. those who cant, talk about those who can
  • #130
  • Jun 16, 2014 9:32am Jun 16, 2014 9:32am
Quoting gatorinla
{quote} any way later, i was reading scott and yourself on my list and got caught in the moment
Really nice to see you see posting outside the EUR thread Gator. A couple in cable, a couple here...very cool!

Not sure how I missed doing this long ago but I've added you to my watch list now.
Ghost Rider - WWTBMD?
  • #131
  • Jun 16, 2014 3:44pm Jun 16, 2014 3:44pm
Another chart on candle structure...

Check out EURAUD. There was a definite support built in by a resistance range break and test...support is holding, but so is the hourly structure moving into the next wave of movement.

With this channel, it should make for a really easy sit and wait, with no risk.

Wait until we break up, wait until we break down and the retest should be as obvious.

Just an observation is all...
Attached Image (click to enlarge)
Click to Enlarge Name: structure.png Size: 39 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #132
  • Jun 16, 2014 4:14pm Jun 16, 2014 4:14pm
Interestingly enough...

AUDUSD is playing in a similar channel..same as has been posted...

Biggest difference from AUDUSD to EURAUD is the range of the channel...

Again, this too should make for some easy pickens...

Wait for a break, a retrace and load the boat...Should make for an interesting week...and is really starting to look like the Week of Chop as forecasted, HERE.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdagain.png Size: 46 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #133
  • Jun 16, 2014 6:15pm Jun 16, 2014 6:15pm
Quoting 60minuteman
{quote} mate, do you even read the title of these threads? it's Doji and reversals.... ask your mum to explain it to you. As for your technical charts, really basic stuff, you should start a thread, FF has a section just for people like you

Ok, I'll agree Magix's posts have nothing to do with the thread title and Doji reversals. At least he's offering some information. But instead of just bashing him and offering nothing at all related to this thread yourself, how about helping me out here.

This is a GU Daily Doji. They don't get any better than this IMHO. As it's a Daily, I should think it has a much higher significance than lower TF Dojis would and therefore, much more reliable yes? Could you help me analyze this one and offer a plan to trade it please. I'm really stuck after all this talk here. (Just learning myself )

Could you please offer what you would do long or short, what your SL & TP would be and how certain you are in % of the trade's success. Thanks in advance.

P.S. I'm sure many of the readers here would also appreciate the help and like me, wait anxiously for your in advance view. Thanks again.
Attached Image (click to enlarge)
Click to Enlarge Name: GU - Daily.PNG Size: 22 KB
Ghost Rider - WWTBMD?
  • #134
  • Jun 16, 2014 6:31pm Jun 16, 2014 6:31pm
Quoting albchr
{quote} Ok, I'll agree Magix's posts have nothing to do with the thread title and Doji reversals. At least he's offering some information. But instead of just bashing him and offering nothing at all related to this thread yourself, how about helping me out here. This is a GU Daily Doji. They don't get any better than this IMHO. As it's a Daily, I should think it has a much higher significance than lower TF Dojis would and therefore, much more reliable yes? Could you help me analyze this one and offer a plan to trade it please. I'm really stuck after...
no problem.

Firstly I have posted some data based on Doji's earlier in the thread. - check back...

now to answer your direct question about the GU Doji - no it is not anymore reliable, you have a bias that it is, but that all depends on where your SL is and where your TP is. If you have no SL nearly 100% of doji's will offer an opportunity to take some profit - but that obviously has its drawbacks.

To say a doji is somehow 'high probability' because of previous price levels is just something traders read others writing and so believe it. Statistically it is no better than going long if the bar closed up and going short if it closed down - If you or magix have any evidence that disproves that then by all means share it.

If you would prefer it explained more eloquently then try reading this article

http://www.tradingmarkets.com/featur...1583643.html/2

As for my particular trading strategy, I'm afraid I don't want to share that.

Good luck with your GU trade, it may go your way, but I think relying on predictive analysis alone will leave you at a long term disadvantage.
tradewith60
  • #135
  • Jun 16, 2014 6:43pm Jun 16, 2014 6:43pm
hey you guys leave my mate friend Magix alone, he is important for your development as a trader........he is a test for you.... if you can deal with him...then you can deal with the market..
Wherever you go, there you are.
  • #136
  • Jun 16, 2014 6:53pm Jun 16, 2014 6:53pm
Quoting 60minuteman
{quote} no problem. Firstly I have posted some data based on Doji's earlier in the thread. - check back... now to answer your direct question about the GU Doji - no it is not anymore reliable, you have a bias that it is, but that all depends on where your SL is and where your TP is. If you have no SL nearly 100% of doji's will offer an opportunity to take some profit - but that obviously has its drawbacks. To say a doji is somehow 'high probability' because of previous price levels is just something traders read others writing and so believe it....
I have read the entire thread as it developed. Even participated if you noticed. I see nothing any more helpful from you back there than right here on this subject actually.

I have no bias as to it's reliability. I asked you and you answered it's doesn't have any. Thank you. I asked you for your SL & TP. I know enough now to adjust my position size based on my account accordingly. So what would you say would be a good idea for them?

I don't recall saying anything about previous price levels in my question. That's Magix's thinking. I'm asking for your evaluation of this daily Doji please. I have nothing that proves or disproves statically that it will go up or down.

I appreciate the link to the article. I do enjoy eloquence. But I gather that means you have no knowledge on this subject to offer yourself? Oh well. So much for trading GU until I read that eloquent article I guess. Thanks anyway. Sure hope I don't miss a good trade.

I have no position as of yet so "it going my way" is rather irrelevant...no? That's sort of why I was asking for your help on the matter.

Certainly not! I would never "predict". That's just foolish in all I've learned. Of course the flip side is, if we don't, how do we trade at all?? Hmmmm.....
Ghost Rider - WWTBMD?
  • #137
  • Jun 16, 2014 6:59pm Jun 16, 2014 6:59pm
Hi Albchr,
You didn't ask me about the GU trade but if you did, I personally don't see a trade yet on the Doji. But that's just me. Better opportunities elsewhere. What I would like to see from that is price move away from that area and then come back. Then I will read price as best as I can and take a trade if the PA/order flow presents an opportunity. Time of day important to me as well.

It is a resistance line so touch traders would be going short I imagine.

Quoting albchr
{quote} I have read the entire thread as it developed. Even participated if you noticed. I see nothing any more helpful from you back there than right here on this subject actually. I have no bias as to it's reliability. I asked you and you answered it's doesn't have any. Thank you. I asked you for your SL & TP. I know enough now to adjust my position size based on my account accordingly. So what would you say would be a good idea for them? I don't recall saying anything about previous price levels in my question. That's Magix's thinking....
SPC * Swollen PocketZ Crew!
  • #138
  • Jun 16, 2014 7:25pm Jun 16, 2014 7:25pm
PS...

BREAK!

lol
Attached Image (click to enlarge)
Click to Enlarge Name: Break.png Size: 27 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #139
  • Jun 16, 2014 7:28pm Jun 16, 2014 7:28pm
Quoting JoeNY
Hi Albchr, You didn't ask me about the GU trade but if you did, I personally don't see a trade yet on the Doji. But that's just me. Better opportunities elsewhere. What I would like to see from that is price move away from that area and then come back. Then I will read price as best as I can and take a trade if the PA/order flow presents an opportunity. Time of day important to me as well. It is a resistance line so touch traders would be going short I imagine. {quote}
Thank you so much JoeNY. << I take it that's Joe...from NY perahps? If so, we're rather close When you say elsewhere I'm guessing you mean other pairs? If so I agree.

I was really looking for more information on Dojis as that is the topic of this thread. I was looking for folks who were trying to answer the OP's question (and mine) rather than just posting here for the sole purpose of beating up on my buddy Magix. Something along the lines of my humble attempt to break one down here.

http://www.forexfactory.com/showthre...54#post7536954

But I do really appreciate your view and the fact that you posted on the subject at hand. Thanks again.
Ghost Rider - WWTBMD?
  • #140
  • Jun 16, 2014 7:59pm Jun 16, 2014 7:59pm
Yup other pairs. I'm not a touch traders so it does me no good but that daily Doji (huge pin on 4hr) on the line is a touch traders dream to go short, I guess. Yes New York...

Quoting albchr
{quote} Thank you so much JoeNY. << I take it that's Joe...from NY perahps? If so, we're rather close When you say elsewhere I'm guessing you mean other pairs? If so I agree. I was really looking for more information on Dojis as that is the topic of this thread. I was looking for folks who were trying to answer the OP's question (and mine) rather than just posting here for the sole purpose of beating up on my buddy Magix. Something along the lines of my humble attempt to break one down here. http://www.forexfactory.com/showthre...54#post7536954...
SPC * Swollen PocketZ Crew!
0 traders viewing now