145 CANDLESTICK PATTERNS || PAGE 13 || (25) Dragonfly Doji (Bullish); (26) Dragonfly Doji (Bearish)

(25) Dragonfly Doji (Bullish):

 Dragonfly Doji is basically made when the Open, High and Close of a trade are equal,

 its main feature is its long Lower Shadow which can be used to reduce the price in the market with a lot of effort. During this time, the price rises again and catches Opening. That means this is a strong lower price reduction .

 The Dragonfly Doji is usually found at the bottom of the downtrend market and it then provides the Uptrend Reversal signal.

Tip :
1) Wait for the confirmation.
2) You can set your stop loss at the bottom of the Dragonfly Doji .

(26) Dragonfly Doji (Bearish): 

Dragonfly Doji is usually found on the floor of Downtrend Market and it gives Bullish Reversal signal, but there are exceptions. Dragonfly Doji is often seen at the top of the Uptrend market and if the next candle is strong Bearish then it provides a Bearish Reversal signal.

The practical application is shown below.