Hanging Man-Inverted Hammer and Doji Candlestick Patterns
Twenty Sixth session of Forex Training
Welcome back to Forex professional training in financial markets.
Hanging Man-Inverted Hammer and Doji Candlestick patterns will be discussed in this session.
Hanging Man and Inverted Hammer Candlestick Pattern
Hanging Man and Inverted Hammer candles are formed at the reversal points of a trend.
Hanging Man candle will be created on an upward trend, while Inverted Hammer candle will be formed on a downward trend.
It is supposed that trend will change its direction after either of them have formed.
[adv_thirdsec ]
The supplementary educational materials about special candlesticks and suitable strategies, using these two beneficial candles, are available on PForex.com.
Doji Candlestick Pattern
Doji candles are classified into three types: Normal, Pin, and Long Legged Doji.
Normal Doji candle has a Cross or Plus shape, that may have no or tiny main body.
Pin Doji candle has tiny or no main body that has a small Shadow on one side, while Shadow on the other side is considerably long.
Long Legged Doji may have minute or no main body in addition to substantial long Shadows on both sides.
Doji are negligible candles which do not have any remarkable effect on market price trend. Doji candles do not change the direction if it is formed in a trend.
An example on MT4 platforms displays that a Doji candle in an upward trend does not have any influence on the trend’s direction.
Another example of a Doji candle confirms that a Doji candle does not indicate any direction change in a trend. There are numerous Doji candles on a chart.
That concludes this session, until next time and another session take care.