Long-legged doji is a candle with a long upper and lower shadows and a small real body. Another name for the long-legged doji is the rickshaw man. The long upper and lower shadow is a sign that the market is confused and approaching a transition period. The Japanese interpret the candle to mean that the trend has 'lost its sense. DEFINITION of 'Long-Legged Doji'. The long-legged doji is a candlestick pattern that consists of long upper and lower shadows and has virtually the same opening and closing price. The candlestick signals indecision about the future direction of the underlying security.
Neutral:[2] Dojis form when the opening and closing prices are virtually equal. Alone, dojis are neutral patterns.
Long-Legged:[3] This doji reflects a great amount of indecision about the future direction of the underlying asset.
Gravestone:[4] The long upper shadow suggests that the direction of the trend may be nearing a major turning point. It is formed when the opening and closing price of the underlying asset are equal and occur at the low of the day.
Dragonfly:[5] The long lower shadow suggests that the direction of the trend may be nearing a major turning point. It is formed when the opening and closing price of the underlying asset are equal and occur at the high of the day.