Gravestone Doji candles on Weekly Index Charts

This week has seen the formation of Gravestone Doji candles on World Index weekly charts. These tend to be an indicator of a change in direction from the bear market rally we have had in recent times, so we may see markets slide this coming week. Bullish market sentiment pushed the indices higher at the start of the week before running out of steam on Thursday. The bears then assumed control and the markets slipped down to where they opened the week.

These candles are the opposite to one of my favourite bullish candle patterns the Kangaroo Tail which has a long tail below a short body and little or no upper wick on the candle. Kangaroo Tails are excellent indicators of a bullish reversal in a market retracement.

This post is intended for educational purposes only and should not be taken as investment advice.

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Colin Simpson

I am Australian based and have been trading for more than 20 years.  

I have been privately mentoring traders on a one-to-one basis since 2010. I trained with Chris Tate and Louise Bedford at The Trading Game, and for many years moderated a forum for them.

I have also worked with Jim Berg and Daryl Guppy, written for Your Trading Edge magazine, and been interviewed for Talking Trading podcasts.

"If I give you a tip you can trade for a day, if I teach you to trade, you can trade over your lifetime."

About the Trading Mentor

Colin Simpson

I'm Australian based and have been trading for more than 20 years.

I have been privately mentoring traders on a one-to-one basis since 2010. I trained with Chris Tate and Louise Bedford at The Trading Game, and for many years moderated a forum for them.

I have also worked with Jim Berg and Daryl Guppy, written for Your Trading Edge magazine, and been interviewed for Talking Trading podcasts.

"If I give you a tip you can trade for a day, if I teach you to trade, you can trade over your lifetime."

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