Dragonfly Doji

Dragonfly Doji Reversal Candle

Definition:
A Dragonfly Doji is a type of Doji candlestick that is formed when the open and close price of a bar are equal or nearly equal and also open and close very near the high of the bar.

Practical Use:
Technical analysts will watch for Dragonfly Doji candlesticks and often use them as buy signals when in context of another bullish chart pattern. In addition, analysts will use these for timing when to avoid selling an asset.

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Dragonfly Doji Reversal Candle

Chart Examples