bullish dragonfly doji candlestickBullish Dragonfly Doji •...

bullish dragonfly doji candlestick
Bullish Dragonfly Doji

• 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.

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