Hello to all. I read somewhere that dragonfly dojis indicate bullish dominance, and gravestone ones indicate bearish dominance, while long-legged/standard dojis suggest indecision. Can someone explain to me how come, since in dragonfly’s case for example, while there is a strong buying/support pressure, the sellers were still able to close the session at a price lower than that of the open ? Thanks.
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hi, are you sure that you are asking about doji not hammer?
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The point about doji’s is that the close is exactly the same price as the open (or at least virtually the same price).
The dragonfly doji is like a capital T. After the bar opens, prices falls significantly but it recovers all the way to where it opened. Although it can’t climb any higher, it doesn’t fall back again either: this isn’t exactly 100% bullish but it’s definitely not bearish.
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A doji closes at the same level as where it opens.
A dragonfly doji is “bullish-ish” and a gravestone doji is “bearish-ish”.
Why “the session”? A “session” is about 8 hours, in forex. Are you using an 8-hour chart?
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Pretty sure. I was surprised too, and thought that a hammer is more appropriate.
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sorry, but session I meant the candle (timeframe if you like)
oh I just realized I wrote buy instead of sell and sell instead of buy 
MB.
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This is all well and good but the doji doesn’t exist until the candle closes. And when the candle closes, it’s probable that price does not re-enter the buy zone or sell zone - that is the whole point of the theory of dojis
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