DOJI CANDLE

           When the candle starts, Buyers want to buy the stock & price move up, but Seller start selling on the stock, due to which the stock does not go up. In the same way, the Seller want to bring down the price of the stock, but the buyers start buying, and the stock is unable to go down. In this way, buying and selling starts happening equally, due to which the opening price and closing price of the candle become the same.
Therefore, there is no real body in Doji candle, only Upper shadow and lower shadow which are almost equal.

It cannot be determined whether the market will go up or down through a doji candle. It is also not determined whether the next candle will be bullish or bearish.
Doji Candle is indecision candle, Doji candle image given below.

 

Entry for Doji candle buy side 
For a bullish candlestick, an option could be to place a buy order above the doji high, then place a stop-loss below the low of the doji. If the price does move higher, the entry is triggered, but risk is controlled in case the price drops after.

For a bearish candlestick, a trader could place a short sell order below the doji low, then place a stop-loss above the doji high. If the price does drop, the entry is triggered and the risk is controlled if the price moves back to the upside.
 

There are mainly two types of DOJI CANDLE.
1 GRAVESTONE DOJI

2 DRAGONFLY DOJI

 

GRAVESTONE DOJI

        Gravestone Doji is a bearish candlestick pattern. In Gravestone Doji, sellers win over buyers, where the opening, closing and low of the candle are almost equally downwards, the remaining 95-98% is formed as upper shadow.

In Gravestone Doji, the control of the stock is with the sellers, due to which if the next candle breakdown the Gravestone Doji, then we can go for short selling position, then place a stop-loss above the doji high. in this way Gravestone Doji Works.

For Dragonfly doji candle please refer bullish candlestick pattern.