WEBVTT

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When the open and close are both equal to the low of the session, we have the most bearish of doji: the

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gravestone doji. As for the Dragon-Fly doji,

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there's no need to be rigid with the rules, as long as you apply the logic of the pattern to recognize

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where supply and demand are addressed,

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you will be able to read the market in the right way.

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So if we have a very small lower shadow, it's still fine. If we have a very small real body,

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well, we can still consider the candle as a gravestone doji. Talking about the Dragon-Fly

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doji,

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we have said that it looks like a hammer.

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What about the gravestone doji?

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It's definitely a shooting star without a real body.

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You can also see that the gravestone doji appears during an uptrend, just like the Shooting Star.

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Here we have euro-dollar on a four-hour chart.

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I give you five seconds to look for the gravestone though.

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doji.

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Ok,

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here we have the Gravestone Doji.

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If you paid close attention you may have noticed another Doji just two candles before the Gravestone

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doji. The trend before the Gravestone doji is clearly up.

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Buyers are winning the fight.

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The gravestone doji expresses the same concept that we have introduced with the shooting star. Buyers

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push the price higher from the very beginning of the session.

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Again this is not a surprise because we are in an uptrend so traders expect the price to go up.

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The surprise comes when sellers step into the market and manage to push the price back to the opening

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price.

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It may be that the market reached a  point where the price is very convenient for the sellers but

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it's not so convenient for the buyers anymore.

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So the gravestone doji has the same logic of the shooting star

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and we will use them in the same way during the course.