Technical Glossary / Candlestick Patterns
Long-Legged Doji
A doji with long wicks on both sides. The period ranged widely and closed where it opened.
Teaching sketch. It shows the shape, not a live quote and not a trade signal.
Definition
Both extremes were visited and neither side held the close. The market explored up and down and accepted a price near the open. It is indecision with a wide range, not a quiet bar.
How to identify it
A very small body near the middle of a tall range, with obvious upper and lower shadows. If the body is a small rectangle rather than a line, it is a spinning top.
Bullish reading
No inherent bullish bias. If it prints at support and the next close is above its high, the indecision resolved upward.
Bearish reading
No inherent bearish bias. If it prints at resistance and the next close is below its low, the indecision resolved downward.
How traders use it
Read it as a range. The high and low become the reference. A later close outside that range is the information. The doji itself is the wait.
Common mistakes
Treating the long legs as a reversal signal in either direction without a break of the range.
Limitations
Wide-range doji are common around news. The bar may be a single headline, not a change in trend.
This note explains the term. A sketch shows the shape of the idea. Neither is a recommendation, a signal, or a comment on any security. Indicator settings and exchange conventions differ. Check the live chart and the contract specification before you use a number.