Points to remember from 17th June session

Topic types simple doji was continued in today’s session. Following types of dojis were
taught:

7. Long legged Doji

 Consists of a doji with long upper and lower shadows

 Indicates fighting between bull and bear forces
 At the end of the candle, a balance is achieved and no one won

8. Hanging Man (Bearish Pattern)

 It could be either black or white candle

 It consists of small body near or at the height with a small or no upper
shadow and a very long lower tail
 Lower tails is usually 2 or 3 times the height of the body
 Considered as Bearish Pattern during uptrend
 It generally appears at the resistance
 It is a reversal pattern

9. Hammer (Bullish Pattern)

 It consists of both Red or Green candle

 It consists of small body near or at the high with a small or
no upper shadow with a long lower tail
 Considered as Bullish Pattern during downtrend
 It generally appears at the support
10. Inverted hammer

 Upside down hammer position

 Strong bottom reversal signal
 Denotes bullish reversal patterns
 It generally appears at support zones

11. Shooting Star Pattern

 Denotes Bearish reversal patterns

 It generally appears at resistance zones

12. Long Lower Shadow

 Either Red or Green candlestick

 It is formed with a long lower tail that has a length of 2-3 times
more than the total body of candlestick
 This pattern is considered to be a good or extreme bullish signal on
support levels

13. Long Upper Shadow

 Either Red or Green candle

 It is formed with a long upper tail that has a length of 2-3 times
more than the total body of candlestick
 This pattern is considered to a bearish signal
 It appears on resistance levels