The Doji and Inverted Hammer Effect: How to Use These Candlesticks
Trading is one of the best professions in the world, and if you have learned trading, it means you have become a rich person in the world. Trading is no doubt a kind of ATM machine which helps you to print money every minute. The only thing is that you need to learn about trading and need to know about its basics and other trading needs.
In crypto trading, candlesticks play an important role in helping you to take the right trades. In this post, I will try to discuss some of the important candles. I will let you know what their work is and what you do if you see them appear in the chart. These kinds of candles work in every time frame. But it is more good if you find it in the longest time frame, such as four hours and one day.
The first candle which I want to discuss is about Doji. If you find a Doji candle either in support or resistance level, it means that the trend has reversed. If you find it in a resistance level, then the trend has reversed, and the market may go down. Similarly, if you find it in a support level, then the market may go upside to change the trend. The purpose of the Doji candle is to change the trend pattern and will help you go for the correct trade.
Similarly, the Inverted Hammer. If you find this candle in the support zone, then it gives you a strong bullish signal. Similarly, if you find this candle at resistance, then the market may go down, which indicates a strong bearish signal.
These two types of candles are very necessary in trading. it will help 50% of your trade to go correct, and will help you earn money by trading.
What do you people think about these candlesticks? Do you know about Doji and Inverted Hammer candles? Will be glad to see your answers in the comment section.
I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
IMAGE TAKEN AND EDITED IN CANVA
Thank You!
Best Wishes.