Double Doji Strategy (Set Up example)
Double Doji Strategy should be done on hourly, 4 hour or Daily, related to a lot more price action involved with each candlestick. Then break will be sudden and quick, when price action does happen to buy or sell side of doji's.
These double dojis do not happen that often, but when they do can be highly profitable set up and high win rate %.
Chart is GbpAud is 4 hours and shows a great example of this double doji strategy:
Rules:
1) Find two dojis at about the same price on charts (hr, 4 hr or daily)
2) Place an entry price one pip higher and lower then tallest and shortest doji
3) Once price action breaks either way, the other entry line becomes stop loss of trade.
4) The range of high and low of both dojis is doubled for target of trade. Ex: if doji range is like chart 28.4, then target above is 28.4 minimum.
Please adjust your lot size and risk management accordingly- when you enter any new trades.
These double dojis do not happen that often, but when they do can be highly profitable set up and high win rate %.
Chart is GbpAud is 4 hours and shows a great example of this double doji strategy:
Rules:
1) Find two dojis at about the same price on charts (hr, 4 hr or daily)
2) Place an entry price one pip higher and lower then tallest and shortest doji
3) Once price action breaks either way, the other entry line becomes stop loss of trade.
4) The range of high and low of both dojis is doubled for target of trade. Ex: if doji range is like chart 28.4, then target above is 28.4 minimum.
Please adjust your lot size and risk management accordingly- when you enter any new trades.
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