Gravestone Doji

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Figure 1. Gravestone Doji (basic candle).

Figure 1. Gravestone Doji (basic candle).

Japanese name: tohbo
Forecast: lack of determination
Trend prior to the pattern: n/a
Opposite candlestick: Dragonfly Doji

Construction:

  • Opening, closing and minimum prices are the same or very similar
  • Long upper shadow
  • appears on as a long line

The Gravestone Doji basic candle is similar to that of a gravestone. Its appearance in a downtrend may suggest its continuation or a move to a sideways trend. All the major authors emphasize the importance of the candle after the uptrend.

Tohbo (or tohba) is a wooden symbol of a Buddhist stupa set up behind a tombstone. It also includes the gravestones of those courageous men who fought in the war. According to Shimizu, the appearance of a Gravestone Doji at the top indicates the announcement of the uptrend’s end. In some cases, the Gravestone Doji basic candle may resemble One-Candle Shooting Star pattern when a small doji body is allowed (e.g. 1-3% of the candle).

 

Figure 2.

Figure 2. In all three Gravestone Doji instances the opening, closing and minimum prices are equal.

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