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gone backwards 12 months, page-23

  1. 5,261 Posts.
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    Hi surat,

    You're right, for some reason I thought we hit 5.5 today...

    The Bullish Dragonfly Doji Pattern is a rare single candlestick pattern that occurs at the bottom of downtrend.

    Direction: Bullish
    Type: Reversal
    Reliability: Moderate




    * Pattern is strongest after an established bearish trend
    * A candle forms with a very small to almost nonexistent body with a long lower wick
    * The lower wick is at least twice as long as the candlestick body
    * Little or no upper wick

    In a bearish trending market the dragonfly illustrates an unsustainable sell-off, where price drives up to new lows, but buyers take control of the trend by market close.

    Although this formation is a moderate to weak signal, it is a warning for longs that the downtrend is losing momentum and bull may retake the market soon. The Bullish Dragonfly Doji is more reliable than a Bullish Hammer and it tends to be a stronger bullish signal.

    http://www.fxwords.com/b/bullish-dragonfly-doji-candlestick.html

    JB
 
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