World Surveillance Group Inc (fka WSGI)

[labrador]

Today is a BULLISH reversal pattern candlestick

Gravestone Doji

is a specific Doji with opening and closing prices equal to the low of the day. The Bullish Gravestone Doji Pattern is a bottom reversal pattern. Similar to its cousin the Bullish Inverted Hammer Pattern, it occurs in a downtrend and represents a possible reversal of trend.

Recognition Criteria:

1. Market is characterized by downtrend.
2. We see a black body formed at the lower end of the trading range.
3. We then see a Doji, which does not have a lower shadow in the second day.
4. No gap down is required.

Important Factors:

Bullish Gravestone Doji requires further confirmation on the next day. Confirmation may be in the form of the next day opening above the Gravestone Doji’s body. The larger the gap the stronger the confirmation will be. A white candlestick with higher prices can also be another form of confirmation.