2 doji set up


Well-Known Member
Following is 2 doji pattern it is from a forex site but it is showing good results in stock and commodity as well as future segment

written by Danny Hefkin

The 2 Doji candlestick forex breakout strategy can be used on any currency pair and timeframe above the 1 hour. The strategy uses two consecutive doji candlesticks to spot new buy and sell trading setups in the market. If you have no idea what a doji is, click here to learn more.

Forex Chart Setup

Preferred Time Frame's: 4 hour and daily
Candlestick Pattern: Doji
Recommended Trading Sessions: All
Currency Pairs: Any

How the strategy works

1) Spot two consecutive doij candlesticks on your forex charts.
2) Mark the upper and lower doji borders.
3) Wait for the third candle to close above the upper border OR below the lower border.
4) Buy if the third candle's closing price is above the upper border. Sell if the third candle's closing price is below the lower border.
5) Stop loss

Stop loss for buy positions is placed 2 pips below the breakout candle.
Stop loss for sell positions is placed 2 pips above the breakout candle.

6) Profit Target: risk-to-reward ratio 1.5 (or use any profit method you like)

Two Doji Forex Trading Strategy Example

Two consecutive doji candlesticks are spotted on the Euro/Dollar daily chart. I mark the upper and lower doji borders and wait for a breakout either to the upside or downside.The third candlestick broke out to the upside. I bought the currency pair @ 1.3078 with stop loss 2 pips below the candlestick @ 1.2975.

Calculating the profit target: Total risk x 1.5

Total Risk: 1.3078 - 1.2975 = 103 pips
Price Objective: 103 pips x 1.5 = 155 pips @ 1.3233
View attachment 19370
Last edited:

Similar threads