6/11/2023 0 Comments Long legged dojiConversely, if entering short as the price moves below the long-legged doji or consolidation, place a stop loss above the pattern or consolidation. Risk Management: If entering long as the price moves above the long-legged doji or consolidation, place a stop loss below the pattern or consolidation. Alternatively, wait and see if a consolidation forms around the long-legged doji, and then enter long or short when the price moves above or below the consolidation, respectively. If the price moves below the pattern, enter a short position. If the price moves above, enter a long position. Entry: Since the pattern is viewed as an indecision period, a trader could wait for the price to move above the high or low of the long-legged doji.
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