About the Author

Stephen Oakes is an experienced financial titan from New York who brings Wall Street to Main Street. Over the past 11 years, he has developed and tested the renown, Oakes Momentum System, which uses a unique constellation of technical indicators to find timely buy and sell points. He holds an M.B.A. in the United States (New York) and has studied internationally at the Reims School of Management in France.

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Long-legged Doji and Gravestone Candlesticks

July 22nd, 2006 • Related • Filed Under


In this graph we will look at a “Long-legged Doji” and the “gravestone” patterns. The long legged doji has very long upper and lower shadows and usually shows up around the tops of trends. This is a complete sign of indecision. Here, the bulls and bears are fighting it out in a struggle to gain ground. Again, in a situation like this take profits immediately.

The gravestone is another profit taking pattern for the bulls when the stock is in an uptrend. Usually following this symbol one will probably see a mob of sellers waiting anxiously to drive the stock price back down. One can see by the illustration that the stock will open and close near the lows of the day.

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