Bullish Reversal
Intermediate
52% reliable · Bulkowski
Dragonfly Doji Pattern
A single-candle pattern where open, high, and close are at or very near the same level, with a long lower shadow. In a downtrend context, it is a bullish reversal signal. The shape resembles a dragonfly, with the body at the top with a long 'tail' below.
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What's in the Dragonfly Doji lesson
- ▸Annotated chart with the Dragonfly Doji highlighted across the context candles.
- ▸Numbered identification rules covering body, shadows, color and position in trend.
- ▸The psychology of the formation: why buyers or sellers create this exact shape.
- ▸Practical tip on what to wait for before treating the pattern as a tradeable signal.
- ▸Quiz questions with explained answers, including this exact pattern.
Quick answers
Is the Dragonfly Doji pattern reliable?
The Dragonfly Doji has a 52% reliability rate per Bulkowski's encyclopedia, a statistical baseline. Confirmation candles and volume strengthen the read. The Candle Trader app has the full formation rules and a quiz.
What timeframes does the Dragonfly Doji work on?
Candlestick patterns work on any timeframe, from scalping (M1-M5) through day trading (M15-H1) to swing trading (H4-W1) and long-term investing. The shorter the timeframe, the more false signals. Always check higher timeframes for context.