2 Doji Candlesticks Breakout Strategy can be used when 2 doji candlesticks are noticed. There is no need to care about whether the market is going to go up or down because whichever way it goes, we want to catch that breakout so what you do is place pending buy stop and sell stop orders on both sides to capture that breakout.

Timeframes : 4hr and daily

Instruments : You can use this strategy for any Instruments.

Candlestick Pattern : Doji

Trading Rules :

1. Wait until 2 consecutive doji candlesticks are noted on the charts

2. Next thing to do is mark the high and low of the doji borders

3. Place 2 separate pending orders- sell stop and buy stop order on both sides exactly at 2 – 3 pips from the low and high respectively.

4. Keep Stop loss at the distance from high to low of that 2 doji plus 2 pips. For buy orders place stop loss at 2 pips lower than the low and for sell orders at 2 pips higher than the high

5. For-profit target, use previous swing high for buy order and swing low for sell order or can target three times what you risk.

Pros :

• Simple price action strategy.
• Potential for explosive price moves that can help you get hundreds of pips.
• The risk to reward is great when a trade goes as expected.

Cons :

• Very rare to happen so you may need to watch a lot of Instruments to make sure you catch this trading setup happening.