ALL IMOIt took a lot of work to sell down and get a...

ALL IMO

It took a lot of work to sell down and get a 'confirmation' of the long legged doji (that occured yesterday) to be negative, I have been doing a bit of research around charting (still a complete novice).

"The Confirmation

Because this is a single candlestick pattern, it’s important to look for confirmation of the reversal the next trading day. This could include an opposite move or any sign of a trend reversal."

Watching the shenanagins today it might explain whats going on, in that the share is being capped to cover accumulation and spill stop loss orders ............... or it's a comfirmation of a dumb filby.

a long legged doji looks like a streched out t

http://www.candlestickanalysis.com/long-legged-doji-candlestick-pattern

"One common candlestick pattern is called the doji. This candlestick is distinguished by being very short, indicating that there was only a small difference between the opening and closing prices. Sometimes the candlestick is so short it is only a horizontal line, but it can vary by a few points. A long legged doji has the characteristic short candlestick with long wicks on either side that are of similar length, which show that prices traded far from their opening and closing points. Despite a great deal of enthusiasm and fluctuation throughout the day, there was little actual movement in the trend. The long legged doji can be a bearish or bullish indicator depending on the trend of the market up to that point.

The doji generally indicates an indecisive market, which is an important indicator to recognize in trending markets. Whether market has been bullish or bearish, a long legged doji suggests that there has been a certain amount of excitement in the market with neither side achieving dominance. This often is a warning of an imminent trend reversal. The forces that dominated the market up until that point are beginning to lose the struggle.

Implications

If the long legged doji is following a general uptrend, it is an indication that buyers are losing confidence, especially in an overbought market. This is a significant trend, because it indicates that the trend is peaking. If you hold on to the stock too long, you may reduce your profit significantly. If you buy at this point, you incur a high risk of losing money when the trend reverses.

Conversely, if this candlestick occurs in a downtrend, it means sellers are not as confident as they previously were. This may be the floor from which the trend will rebound.

If the market is not trending, the long legged doji is not significant. Non-trending markets are inherently indecisive, so the doji candlestick is mere evidence of this.

The Confirmation

Because this is a single candlestick pattern, it’s important to look for confirmation of the reversal the next trading day. This could include an opposite move or any sign of a trend reversal. It’s important to remember that dojis mark turning points with considerable reliability, often foreshadowing the beginning of a complete trend reversal. While no action should be taken based on the Traders should recognize them and watch for sell signals the next trading day. Any sell signal following a long legged doji is likely to be very reliable, especially when occurring at tops.

When this candlestick occurs outside a Bollinger Band, this is an extremely strong warning that a reversal is impending. Any subsequent sell signal should be taken seriously and given an immediate response.

Variations of Long Legged Doji

The long legged doji is a clear and easily recognizable marker with little variation. The only possible variation is the type of reversal that is impending, which depends on and generally will be the opposite of the nature of the trend up until that point."