What is the dragonfly doji pattern?
The dragonfly doji is a bullish candlestick pattern. Open, close and high all sit near the same level with a long lower shadow. Sellers pushed price down and buyers recovered every bit.
How does the dragonfly doji form?
Open, close and high all sit at nearly the same level, with a long lower shadow. Price fell hard and came all the way back.
How do you confirm a dragonfly doji?
The body must be tiny and sit at the top of the range. A doji with a body in the middle is a spinning top and says something different.
When does the dragonfly doji fail?
The whole day's range being rejected is dramatic but not directional; if the next bar makes a new low, the rejection was simply absorbed.
No chart pattern works every time. The examples on this page were chosen because they show the pattern clearly, and in real markets patterns fail often.
Practice on real charts
3 real examples of the dragonfly doji, cut off where the pattern completed. Make your call, then see what happened.
The shaded area is a dragonfly doji. Where did price go next?
