Forex Candlestick Doji like I mentioned is one of the very important patterns in candlestick. Presence of a doji on most of the charts can indicate that a reversal may be around the corner.

But not all forex charts carry such significant of doji. In some cases, this pattern would mean nothing at all.

Which charts are these?

Well any forex chart which is on day trading time frame such as 15 min., 5 min., may be even 30 min. would not carry so much significance of forex candlestick doji.

But, on the other hand presence on 1 hr chart and daily chart can cause flutters among traders and they may start adjusting their stop losses or may even choose to close the trades.

So, always watch for doji on daily, 8 hr or 1 hr forex chart. But on day trading time frames, feel free to ignore candlestics Doji.

Forex Candlestick Spinning top is a special kind of Doji that we saw in the last post on forex candlesticks. Like you saw in that post, ideally doji hs same open and close price, signifying no body, and good sized wicks on both the ends.

A spinning top is almost same except that the size of the body is few pips. The body size is still very  small, but it is bigger than forex candlesticks doji.

Look at the chart below

As you can see, the spinning top shows that a significant trend  may come to an end since there is a indecision in the market. But just like candlestick doji, the volatility in the market is known from the size of wicks. If the volatility is high, the wicksize is large.

So, needless to say, both spinning top and doji are important forex candlestick patterns

Forex Candlesticks really facinate me a lot. The more I learn about them, the more I feel like learning more. I mean so many patterns and each speak a lot about forex market conditions.

For example, let us talk about Candlestick doji which is a very popular and significant type of candlestick pattern.

Doji Candlestick pattern

 As you can see in the chart, Doji signifies a point where both Buyers and sellers match for each other. Its more like a tug of war where no side is winning currently.

Candlestick Doji in clear terms is a candle where the opening price is the same or almost the same as the closing price.

So naturally when a candlestick is formed, it shows that trader needs to be watchful of the trading consitions.

Doji candlestick also shows that the traders who have their forex trades open need to do some housekeeping work such as adjusting stop loss or may be even close the trade.

See, all this message can be derived from one single forex candlestick Doji pattern