Gravestone Doji – Bearish Reversal Candlestick
Gravestone Doji is a candlestick bar where the open, low, and close are at the low of the day. The gravestone doji is a bearish formation and its success rate is greatly increased when the candle forms at a market top. The psychology behind the candle is that the bulls pushed the security up to a unsustainable level and the bears are able to sell the security down to its low by the end of the session. The Japanese candlestick literature states that a gravestone doji represents the gravestones of the bulls that have died defending their territory.
Charting Example of Gravestone Doji
Gravestone Doji Candle
