gj0201, I agree it is not a perfect dragonfly doji. More of a...

gj0201, I agree it is not a perfect dragonfly doji. More of a bullish rejection pattern. I wrote that when the market was still trading. Could have turned out to be anything ..lol. I am not a big user of candles but I like the psychology of this one as it shows the buyers are moving back into the market driving the price right back up rejecting the sell off.

I never trade on a candle alone. I find they are more relevant when looking for bottom and top reversals. I use them in conjunction with my other analysis. This looks like a good setup after three gaps down, hitting a major trendline and pushing backup strongly to finish 2 cents higher than the open. We will see how this one plays out.

Try backtesting these types of candles at the bottom of a move where there is a long tail and small body at or near the top. I like it when there are a few of them together when a stock is consolidating near a support line. It gives you a hint that there may be some bullish sentiment building. Like Mongombolo said, wait for confirmation the next day as I haven't in the past a few times and got it totally wrong..lol

Regards, Fozburger