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Gravestone Doji Candlesticks

Gravestone doji candlesticks are reversal candles that are found at the top of an uptrend or near resistance levels. They are shaped like an upside down T with a slim real body and signify a possible reversal to the downside. Look for price to fall below this candle to confirm reversal. 

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What Are Gravestone Doji Candlesticks?

gravestone doji candlesticksGravestone doji candlesticks are a member of the doji family. They are typically found in up trends signifying a potential reversal to the downside. They have a small flat real body, longer upper wick and look like an upside down T. Many of times they are black or a neutral color on stock charts.

Gravestone doji candlesticks make up candlestick patterns and tell a price action story. A “GS” candlestick is a bearish candle. Plain and simple.

This candlestick can be found in bearish trends. However, it’s typically found in a bullish trend that’s about to reverse.

What does a gravestone doji candlestick pattern tell us when stock trading? While they can be found at the end of a down trend, they’re mostly found in an uptrend when a stock is about to reverse.

It’s open price along with the close and low of day are all pretty much near each other. The high of the day creates the long shadow. The gravestone doji candlestick is an upside down T.

That long upper wick tells you the bulls had control throughout the day. Then the bears came in and drove the price back down to end the day, forming the pattern. It shows strong bears during that time frame. You get even stronger confirmation if you find one near a key level of support or resistance.

Similar But Different

It’s important to remember that different dojis can look similar. In fact, they all have that short real body which tells you that day ended in indecision.

Don’t get caught up in trying to determine exactly what the candlestick is. Learn to feel the flow of the candlestick chart without being caught up in the exactness of the candle.

Gravestone Doji BA

What Does It Indicate?

Gravestone doji candlesticks are bearish indecision candles. When a trader sees the gravestone doji pattern, they’re getting out of their trade if they’ve been long the stock or option. The gravestone doji is sending a serious signal to the trader to take their profits or losses and get out.

Comparatively, a trader who was going to go short or buy put options could see this and make that trade. As always the reversal signal of a gravestone doji needs confirmation and depends on price action. If you can’t read the price action, it’s going to cause you lots of headaches. Technical analysis also comes into play and is an important part of a gravestone doji candlestick pattern. 

How to Trade Gravestone Doji Candlesticks

  • Traders take a short at the break of the low and use a close above high as a stop
  • They might take a long position when price breaks above the high of the candlestick
  • Then use a candlestick close below the low as a stop level

Reversal Continuation or Algo

gravestone doji candlesticksIt’s important to know if a pattern is a reversal pattern or a continuation pattern. Gravestone doji candlesticks are typically apart of reversal patterns. But that doesn’t mean you wouldn’t see them in a continuation pattern.

Sometimes you’ll see lots of gravestone dojis on a low volume chart. That is because HFT’s or Algos are trading these stocks while there are no “real” buyers.

Just computers trading with each other on low volume. Don’t fall into these traps! Only buy when volume shows there’s a real presence. So, you need confirmation. You get confirmation by the next few candlesticks as well as moving averages.


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