The Ultimate Guide to Long-Legged Doji Candlestick Patterns

Last updated: February 7, 2024

Long-Legged Doji Pattern

This candlestick pattern occurs when long upper and lower shadows are seen on a doji (where the opening and closing prices are essentially the same):

Chart

General Identification & Interpretation

Steve Nison is credited with bringing Japanese candlestick charting to the West. In his book "Japanese Candlestick Charting Techniques" he describes long-legged doji patterns with the following characteristics:

Typical characteristics

• Long upper and lower shadows occur on a doji candle (where the opening and closing prices are essentially the same)

Examples of use as a trading indicator

• Large upward and downward price movements are seen throughout the trading day, but the price closes essentially at the moment, indicates that the market is confused

Other interpretations

• This candle is also known as a rickshaw man
• If the candle has a small real body with long upper and lower shadows, this candle is known as a high-wave candle

More for beginners

Check out our quick start guide to candlestick charting for more information if you are new to candlestick charting!