Exact formation
Opening and closing practically the same, with shadows on both sides; The body is a line or very narrow.
What is happening in the market
Buyers and sellers moved the price, but neither maintained an advantage at the close.
Where it matters
Its meaning depends on the trend, level and subsequent candle. In the middle of a range it is frequent noise.
How to confirm it
Break of the maximum or minimum consistent with the context.
When it is invalidated
Confirmed movement towards the opposite side of the proposed hypothesis.
Common mistake
Assign it a bullish or bearish direction on its own.