Decision making is always something to address. For some it is a chore, while others have it just flow with ease. There may even be another perspective as both sides of any topic are making decisions. The thing is if you Can't Decide? Might Be a Doji at Work.
A Doji, What is That?
I'm sure you have seen this at one time or another and it's much more common that you think. The ever illustrious doji candle on the charts.
With its roots stemming back to Forex markets, the doji candle occupies both the welcomed and feared space at the same time.
Many interpretations are drawn from seeing a doji candle, but fortunate for everyone, the significance is quite narrow.
The doji candle often represents a pause, equal activity in bullish and bearish behavior or a possible change in trend resulting from the first two.
If you're never taken a moment to think about it, then there's opportunity to see how this is applicable across any number of areas.
The Commonality of the Doji
The Harvard University professor Bill Williams often talks about negotiations in everything you do from ordering food at a restaurant to the most serious of business deals. He's known for saying things like;
In Pursuit of Promises
The negotiation is the pursuit of a promise for an intended outcome. In this author's opinion, this is where the doji comes into play.
The doji is the pursuit of balance.
How else can we explain it? There have been many chat transcripts I have witnessed where the reader could feel a palpable gasp from the other end when a doji candle appeared.
The doji represented a pause in momentum, a possible change in momentum or even an undesired outcome.
Let's think about it for a second though and apply what we know so far. The doji most likely is where the commonality of both sides is at a high level. Buyers equal sellers.
The reality is that when the doji appears it is usually confirmation of other indicators that are in place. Changes in moving averages, oscillators beginning to swing or even money flow changing.
Here's an Off Topic Example
During another lifetime and profession, I was an instructor for operations in bear habitat. A huge part of the discussion was around what to do when encountering both black and brown bears.
Here's the thing. If you accidentally come across a bear in person, you have already misstepped several times already.
There are 101 things to do to not run into a bear before you run into a bear.
The point here is that the doji candle is the bear on the chart. It's not that if you encounter a doji, much like the bear you should say "Oh s#$%, I'm done". Rather you are prepared.
More importantly you prepare for all of the other presteps as well.
The Doji & What to Do About It
Whether you're navigating in bear country or navigating the bears in the market charts, the doji candle can be the indicator to aid in confirmation of your technical analysis.
Don't run for the hills, rather see the forest for the trees and decide accordingly.
Thanks for taking a moment to check out this article. To add value, there are 3 links below.
If you are not already on ByBit, you can use the link or if you are setting up an additional profile you can use the code below which will provide varying bonus amounts after first deposits.
Use this code: wzLp8
If you haven't used Market Cipher, yet it has been a complete game changer for me. Takes away the guessing when looking at momentum and activity on the charts. If you use the link above you get an additional 5% off the already half off price.
Unfortunately Market Cipher does not have a free test period, but they do offer a full refund within 72 hours if you're not satisfied. See what you think, it might be exactly what you need.
Energized Life with BryRi
Keep irregular sleep hours? Finding different ways to keep energy in top form? Of Course you do! Like all of us, BTC never sleeps and there are days when we don't either.
Over the last year, I have been developing skills in Energetics and Alignment of resources that help all of us address the need to be a non-stop energy factory!
I have started a once a week newsletter "Energized Life with BryRi". It will take you to a splash page to put in your email and then to my website which is still a work in progress.
I would be honored to serve you. Check it out!