As of 04/22/2024
Indus: 38,240 +253.58 +0.7%
Trans: 15,224 +140.68 +0.9%
Utils: 883 +7.72 +0.9%
Nasdaq: 15,451 +169.30 +1.1%
S&P 500: 5,011 +43.37 +0.9%
|
YTD
+1.5%
-4.2%
+0.2%
+2.9%
+5.0%
|
 39,800 or 37,150 by 05/01/202416,200 or 15,000 by 05/01/2024885 or 850 by 05/01/202416,700 or 15,800 by 05/01/20245,250 or 5,025 by 05/01/2024 |
As of 04/22/2024
Indus: 38,240 +253.58 +0.7%
Trans: 15,224 +140.68 +0.9%
Utils: 883 +7.72 +0.9%
Nasdaq: 15,451 +169.30 +1.1%
S&P 500: 5,011 +43.37 +0.9%
|
YTD
+1.5%
-4.2%
+0.2%
+2.9%
+5.0%
| |
|
39,800 or 37,150 by 05/01/202416,200 or 15,000 by 05/01/2024885 or 850 by 05/01/202416,700 or 15,800 by 05/01/20245,250 or 5,025 by 05/01/2024 | ||
My book,
Encyclopedia of Candlestick Charts
If you click on the above link and then buy the book (or anything) while at Amazon.com, the referral will help support this site. Thanks.
$ $ $
The southern doji is supposed to act as a bullish reversal candlestick, and it does, but just 52% of the time. I call that "near random." If you found one charging at you while on safari, you would not know which way to turn. Most doji candlesticks that I have studied are just like that: They act randomly.
|
Theoretical performance: Bullish reversal
Tested performance: Bullish reversal 52% of the time
Frequency rank: 8
Overall performance rank: 78
Best percentage meeting price target: 90% (bull market, up breakout)
Best average move in 10 days: 3.51% (bear market, up breakout)
Best 10-day performance rank: 50 (bear market, up breakout)
All ranks are out of 103 candlestick patterns with the top performer ranking 1. "Best" means the highest rated of the four combinations of bull/bear market, up/down breakouts. The above numbers are based on hundreds of perfect trades. See the glossary for definitions. |
 Southern Doji
|
Theory matches the performance found in the field: the southern doji acts as a bullish reversal but only 52% of the time. Based on the frequency rank (8), you will find it often in a historical price trend, but performance after the breakout ranks well down the list of performers: 78. Since I only looked at 103 candlesticks, with 1 being best, the southern doji is not one worth hunting for.
After the breakout, price meets the measure rule target 90% of the time. That means if you add the height to the top of the doji, price will reach it 90% of the time before the trend ends. That is a good score but it only applies to upward breakouts in a bear market. The best average rise is 3.51% over 10 days which I consider poor. Rises of 6% or more get me hot!
| Characteristic | Discussion |
| Number of candle lines | One. |
| Price trend leading to the pattern | Downward. |
| Configuration | Look for a doji candlestick (one in which the opening and closing prices are a few pennies from each other) in a downward price trend. |
If you want a few bones from my Encyclopedia of candlestick charts book, here are three to chew on. The pages refer to the book where the tips appear.
Shown is a southern doji (A) on the daily chart. This doji has the opening and closing prices the same and it appears in a downward price trend -- all the ingredients to qualify it as a southern doji. Price reverses trend when it breaks out upward (a close above the top of the doji).
-- Thomas Bulkowski
Support this site! Clicking any of the books (below) takes you to
Amazon.com If you buy ANYTHING while there, they pay for the referral.
Legal notice for paid links: "As an Amazon Associate I earn from qualifying purchases."
|
My Stock Market Books
|
My Novels
|
The trouble with the gene pool is that there's no lifeguard.
on 
