Dragonfly Doji
The open, high and close are at the top, with a long lower wick — a “T” shape. Buyers rejected the lows completely.
Where it matters
Meaningful after a decline and at a support zone. Elsewhere it is simply indecision.
Faded candles are the trend before it, the band is the pattern, the dashed line is the level it formed at, and ✓ marks the confirming candle.
How to read it
- 01
How it forms
Price falls sharply during the session, then buyers bring it all the way back to the opening level.
- 02
Where it matters
Meaningful after a decline and at a support zone. Elsewhere it is simply indecision.
- 03
What confirms it
The next candle closes above the high of the Dragonfly Doji.
- 04
Where the idea is wrong
A close below the low of the long lower wick.
- 05
What volume should do
Higher volume on the Dragonfly suggests the recovery from the lows had participation.
- 06
Common mistake
Reading it in the middle of a range, where it says very little about direction.
Read it next
Opposite pattern
Gravestone Doji
Meaningful after a rise and at a resistance zone.
Single Candle
Bullish Marubozu
Most meaningful when it breaks out of a range or closes above a resistance level. Inside a choppy range it says much less.
Single Candle
Bearish Marubozu
Most meaningful when it breaks below a support level or a range. Inside a range it is often just noise.
From the book
Read the full chapter in the book.
Chapter 9 of Trading Candlestick Patterns explains the Dragonfly Doji with real Indian market charts, volume context and stop-loss placement.
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Educational content only. A pattern describes what buyers and sellers did; it does not predict what price will do next. Not investment advice or a buy, sell or hold recommendation.